The Smith, Stanistreet and Company Limited (Acquisition and Transfer of Undertakings) Act,1977
Section 11. Accounts and audit
The Custodian of the undertakings of the Company shall maintain the accounts of the undertakings of the Company in such form and in such manner and under such conditions as may be prescribed and the provisions of the Companies Act,1956 (1 of 1956.), shall apply to the audit of the accounts so maintained as they apply to the audit of the accounts of a company.