s 9
(1) Where a statutory body is unable to submit its Application statement of accounts for audit within six thonths errzson after the end of the financial year to which the accounts imtt. relate, it shall, before the expiry of such time limit, apply ın writing to the Minister for an extension thereof and shall also set out the reasons for applying for such extension. (2) Where a statutory body applies under subsection (1) for an extension of the time limit of six months, the Minister, if satisfied with the reasons for the application, may, with the concurrence of the Minister of Finance, grant such extension of the time limit as may be deemed necessary but such extension shall not in any case exceed a period of three months in the aggregate in respect of each financial year, and the statutory body shall then submit its statement of accounts for audit within the time limit as extended. [PL. VI, S.10-11]