(1)  The Authority shall prepare once in every year, in such form and at such time as may be prescribed by the appropriate Government,—

   (a)  a description of all the activities of the Authority for the previous year;

   (b)  the annual accounts for the previous year; and

   (c)  the programmes of work for the coming year.

   (2)  A copy of the report received under sub-section (1) shall be laid, as soon as may be after it is received, before each House of Parliament or, as the case may be, before the State Legislature or the Union Territory Legislature, where it consists of two Houses, or where such legislature consists of one House, before that House.