(1) A statutory body shall, as soon as possible and in any case not later than 3 months after the end of its financial year, submit an annual report to the appropriate Minister as the Minister may direct.
(2) An annual report shall include a balance sheet, an income and expenditure statement and the report of the auditor on the accounts of the statutory body.
(3) On receipt of the annual report, the accounts and the auditor's report, the appropriate Minister shall lay them before Parliament at its next sitting.