The Industries (Development And Regulation) Act, 1951
7. Reports and accounts of Development Councils
(1) A Development Council shall prepare and transmit to the Central Government and the Advisory Council annually a report setting out what has been done in the discharge of its functions during the financial year last completed.
(2) The report shall include a statement of the accounts of the Development Council for that year and shall be transmitted as soon as accounts there for have been audited, together with a copy of any report made by the auditors on the accounts.
(3) The statement of account shall be in such form as may be prescribed, being a form which slight conform to the best commercial standards, and the statement shall show the total of remuneration and allowances paid during the year to members and officers of the Council.
(4) A copy of each such report of a Development Council, or made by the auditors on its accounts shall be laid before Parliament by the Central Government.