law: 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
  
  therefor have been audited, together with a copy of any report made by the
  
  auditors on the accounts.
  (3) The statement of accounts shall be in such form as may be
  
  prescribed, being a form which shall 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.