(1) The committee of management of a society shall cause to be laid before the annual general meeting of the society an income and expenditure account for the period, in the case of the first account, since the incorporation of the society and, in any other case, since the preceding account, made up in every case to the end of the preceding financial year.

(2) The committee of management of a society shall cause to be prepared and laid before the annual general meeting of the society a balance sheet as at the end of the preceding financial year.

(3) Every income and expenditure account of a society shall give a true and fair view of the income and expenditure of the society for the relevant period, and every balance sheet shall give a true and fair view of the state of affairs of the society as at the end of the relevant period.

(4)

(a) The income and expenditure account and balance sheet of a society shall be in such form and shall contain such particulars as the Minister may specify by regulations, either generally or with respect to a specified class or classes of societies, denoted by reference to such matters as the Minister thinks fit.