116. (1) The IAA shall, in respect of the period that the Minister may specify, which may be a period that is longer or shorter than a financial year of the Commission, prepare final accounts of the Commission.

(2) The IAA shall submit the final accounts to the Comptroller and Auditor General for audit not later than 3 months after the dissolution day.

(3) The IAA shall prepare a final annual report for the Commission and submit the report to the Minister not later than 6 months after the dissolution day.

(4) Section 26 of the Aviation Regulation Act 2001 shall apply, with all necessary modifications, in relation to final accounts and an annual report prepared under this section.