As enactedVersion · As enacted
7. Accounts of the Corporation
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(1)
The Board of Management of the Corporation shall cause proper books of accounts to be kept of the income and expenditure of the Corporation.
(2)
All moneys received by way of donations, testamentary dispositions, transfers, contributions or fees shall be deposited in the name of the Corporation in one or more banks as the
Board of Management shall determine.
(3)
The Corporation may create any depreciation, reserve or sinking funds for the rehabilitation, improvement and the development of the property of the Corporation.
(4)
The accounts of the Corporation shalf be audited by any qualified auditor or auditors appointed by the Corporation.