(1) Subject to the provisions of Rule 3, the actual administration of the fund including the grant of temporary advance to subscriber, recovery thereof and such other matters pertaining thereto shall be looked after the Chief Executive Officer:
Provided that, the maintenance of individual accounts, reconciliation of the accounts with the books in the office of the Accountant General, maintenance of consolidated account of the fund shall be looked after by the Accounts Officer.
(2) The Fund shall be subject to annual audit by the Auditors of Authority. A local test check of the account shall be carried out by the Accountant General Maharashtra I or II, as the case may be.
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