Section 18: Audited accounts and annual report

18. Audited accounts and annual report (1) The Council shall, not later than 3 months after the end of every financial year, prepare and submit to the Director of Audit for auditing— (a) an annual statement of the receipts and payments for that financial year; and (b) a balance sheet made up to the end of that financial year showing the assets and liabilities of the Council. (2) The Council shall, as soon as practicable, after the end of every financial year, submit to the Minister— (a) a report on the activities and financial position of the Council during that financial year; and (b) a copy of the audited accounts of the Council for that financial year, together with the audit report on those accounts. (3) The Minister shall, at the earliest available opportunity, lay a copy of the annual report and audited accounts of the Council before the Assembly. [S. 18 repealed and replaced by s. 18 (f) of Act 27 of 2012 w.e.f. 22 December 2012.]