Company to furnish balance sheet and revenue account to Minister
12 Company to furnish balance sheet and revenue account to Minister
The Company shall in every year, not later than the prescribed date, take out a balance sheet, showing its assets and liabilities and making due allowance for depreciation and for such other reserves as are usual for undertakings similar to that carried on by the Company, together with a revenue account for the preceding 12 months, and shall, on or before the date prescribed for that purpose, forward the balance sheet and revenue account to the Minister who shall cause a copy of both to be laid before both Houses of Parliament, as soon as may be practicable after their receipt.
Any officer of the Auditor General nominated by him shall, at all times, have free access to the books and records of the Company and be at liberty to make such copies of, or extracts from, them as he thinks fit.
The Company shall keep all such other records of its transactions as may, from time to time, be prescribed; and such records shall at all times be open for inspection as provided by subsection (2).
This provision refers to the regulations (prescribed date
). Made under this Act:
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