Section 5: Accounts, audit and estimate.

(1) The Council shall prepare and submit to the Minister not later, than the 30th day of September of the year in which this Act comes into force (so however that the Minister may, if he considers it necessary extend the period) and of each subsequent year, an estimate of its income and expenditure during the next succeeding financial year.
(2) The Council shall keep proper accounts in respect of each financial year and proper record in relation to those accounts and shall cause its accounts to be audited within 6 months after the end of each financial year to which the accounts relate by auditors appointed from the list and in accordance with the guidelines supplied by the Auditor-General for the Federation.