(b) a disqualified person acted as a member of the Board at the time the decision was taken or act was done or authorised: Provided that the Board shal l ratify any such decision or action as soon as possible after it becomes aware that the decision or action was taken in the circumstances described in subparagraph (a) or (b). Minutes of proceedings of Board 12. (1) The Board shall cause minutes of all proceedings of and decisions taken at every meeting of the Board to be entered in books kept for the purpose. (2) Any minutes referred to in subpara graph (1) which purport to be signed by the chairman of the meeting to which the minutes relate or by the chairman of the next following meeting of the Board or the committee concerned, as the case may be, shall be accepted for all purposes as prima faci e evidence of the proceedings of and decisions taken at the meeting concerned. (3) The Board shall cause copies of all mi nutes that have been signed as provided in subparagraph (2) to be sent without delay to the Minister for his information. Fourth Schedule (Section 5) FINANCIAL AND MISCELLANEOU S PROVISIONS RELATING TO AUTHORITY PART I FINANCIAL PROVISIONS Funds of Authority 1. The funds of the Authority shall consist of— (a) fees, charges and other income accruing to the Authority from licences issued and other things done by it in terms of this Act; and (b) the proceeds of any monetary penalties imposed by the Authority in terms of subsection (9) of section twenty-four; and (c) such moneys as may be payable to th e Authority from moneys appropriated for the purpose by Act of Parliament; and (d) such other moneys as may vest in or accrue to the Authority, whether in the course of its operations or otherwise. Financial year of Authority 2. The financial year of the Authority sh all be the period of twelve months ending on the 31st December in each year. Surplus funds of Authority to be appropriated to Broadcasting Fund 3. Any surplus of income over expenditur e at the end of the Authority’s financial year, less an amount to be retained by the Authority to cover it s estimated recurrent expenses for the following six months, shall be appropriated to the Broadcasting Fund established by section twenty-nine. Accounts of Authority 4. (1) The Board shall ensure that proper accounts and other records relating to such accounts are kept in respect of all the Authority’s activities, funds and property, including such particular accounts and records as the Minister may direct. (2) Not later than three months after the e nd of each financial year of the Authority, the Authority shall prepare and submit to the Minister a statement of accounts in respect of that financial year or such other period as the Minister may direct. Audit of Authority’s accounts 5. (1) Subject to the Audit and Exchequer Act [Chapter 22:03], the Authority shall appoint as auditors one or more persons approved by the Minister who are registered as public auditors in term s of the Public Accountants and Auditors Act [Chapte r 27:12]. (2) The accounts kept by the Authority in terms of subparagraph (1) of paragraph 4 shall be examined by the auditors appointed in terms of subparagraph (1). (3) The auditors appointed in terms of subparagraph (1) shall make a report to the Board and the Minister on the statem ent of accounts prepared in terms o f subparagraph (2) of paragraph 4 and such report shall state whether or not in thei r