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Accounts and audit.
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35.—(1) (a) The Board shall keep all proper and usual accounts of all moneys received or expended by it and in particular shall keep all such accounts as the Minister and the Minister of Commerce may jointly direct.
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(b) The Minister and the Minister of Commerce may jointly direct the form in which the Board's accounts are to be kept.
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(2) (a) The accounts of the Board shall show at the establishment date as a capital liability of the Board to the Minister the sum of two million, two hundred and fifty thousand pounds, being the amount paid by the Minister to the Company under subsection (1) of section 46, and a similar sum as a capital liability to the Minister of Commerce.
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(b) Interest may be charged to the Board in respect of the said liability to the Minister at such rate as the Minister, with the consent of the Minister for Finance, may fix from time to time.
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(3) (a) The Board shall prepare an annual statement of accounts in such form and containing such particulars and compiled from such records and in such manner as the Minister and the Minister of Commerce may jointly direct.
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(b) The accounts of the Board shall in each year be audited by an auditor or auditors to be appointed annually by the Board with the consent of the Minister and the Minister of Commerce.
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(c) The fees of an auditor and the expenses of the audit shall be paid by the Board.
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(4) Within three months, or such longer period as the Minister and the Minister of Commerce may jointly direct, after the end of the Board's financial year the Board shall send to the Minister a copy of the annual statement of accounts, together with the auditor's report thereon.
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(5) The Minister shall cause a copy of the accounts and report furnished to him under this section to be laid before each House of the Oireachtas and copies thereof shall be placed on sale by the Board.
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