(1)  The Trust is to keep financial statements for all of its transactions.

(2)  By 30 September in each year, the Trust is to prepare the financial statements for the immediately preceding financial year ending on 30 June and have those statements audited by an auditor.

(3)  Within one month after receiving the financial statements of the Trust, the auditor must –

(a) report to the Trust whether, in his or her opinion, the requirements of the Act in respect of the handling of money by the Trust have been complied with or have not been complied with fully; and

(b) if the auditor finds that the requirements of the Act have not been complied with fully, specify in the audit report –

(i) the matters in respect of which there has not been full compliance; and

(ii) the extent of the non-compliance.

(4)  Within 7 days after receiving the audit report, the Trust is to give a copy of the audit report to –

(a) the Minister; and

(b) the Board.