Section 22W. Annual Financial Statements.

(1) The Corporation shall, by such date in each year as may be prescribed, prepare and submit to the Government for approval an annual financial statement and the programme of work for the succeeding financial year. (2) The annual financial statement shall show the estimated receipts and expenditure during the succeeding financial year in such form and detail as may be prescribed. (3) With the approval of the Government the Corporation shall be competent to make variations in the programme of work in the course of the year : Provided that all such variations and reappropriations out of the sanctioned budget are brought to the notice of the Government by a supplementary financial statement. (4) A copy each of the annual financial statement and the programme of work and the supplementary financial statement, if any, on submission to the Government as soon as may be, shall be placed before the Legislature.