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Annual reports and accounts.
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24.—(1) The Foundation shall submit, in such form as the Minister may direct, an annual report of its activities after the end of the financial year to which it refers and the Minister shall cause copies of the report to be laid before each House of the Oireachtas not later than 6 months after the end of that financial year and the Foundation shall specifically comment in every such annual report on the oriented basic research being supported by the Foundation and how such research relates to its functions.
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(2) The Foundation shall keep, in such form as may be approved of by the Minister, with the consent of the Minister for Finance, all proper and usual accounts of money received and expended by it and, in particular, shall keep in such form as aforesaid all special accounts as the Minister may from time to time direct.
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(3) The accounts of the Foundation for each financial year shall be prepared by the Director General, approved by the Board and submitted to the Comptroller and Auditor General for audit as soon as practicable, but not later than 4 months after the end of the financial year to which they relate.
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(4) A copy of the accounts referred to in subsection (3) and the report of the Comptroller and Auditor General on those accounts shall, as soon as is practicable, be presented to the Minister who shall cause copies of the accounts and the report to be laid before each House of the Oireachtas.
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