Section 54. Annual Report.

(1) The Authority shall, as soon as may be, after the end of each financial year, prepare and submit to the State Government, a report giving an account of its activities during the previous financial year, a statement of receipt and disbursement for the previous year and a statement of operation of Truck Terminal Fund during the previous year, and the report shall also give an account of the activities, if any which are likely to be undertaken by the Authority during the next financial year. (2) The State Government shall cause every such report to be laid before the State Legislature as soon as may be after it is submitted.