Societies to make annual audits and statements of the funds to the members

(1) The secretary or other officer of every society shall, once in every year ending with 31st December at least, prepare an account of all the receipts and expenditure of the society and a general statement of its funds and effects, liabilities and assets, showing the amounts due to the holders of the various classes of shares respectively, to depositors and creditors for loans, and also the balance due or outstanding on their mortgage securities, not including prospective interest, and the amount invested in the funds or other securities. (2) Every such account and statement shall be attested by the auditors, to whom the mortgage deeds and other securities belonging to the society shall be produced, and such account and statement shall be countersigned by the secretary or other (3) Every member, depositor and creditor of loans shall be entitled to receive from the society a copy of such account and statement, and a copy thereof shall be sent to the Registrar General within fourteen days after the annual or other general meeting at which it is presented, or within three months after the expiration of the year ending 31st December, whichever period expires first. 27 (4) Another copy of the account mentioned in this section and statement thereof shall be exhibited in a conspicuous place in every office of the society registered under this Act. (5) The Registrar General shall cause every such account and statement to be published in the Gazette as soon as possible after the receipt thereof. books.