Lawgist5Audit of accounts of Society
(1) The Society shall maintain proper accounts and other relevant records and prepare an annual statement of accounts including the balance sheet in such form as may be approved by the Comptroller and Auditor-General of India.
(2) The accounts of the Society shall be audited by the Comptroller and Auditor-General of India and any expenditure incurred by him in connection with such audit shall be payable by the Society to the Comptroller and Auditor-General of India.
(3) The Comptroller and Auditor-General of India and any person appointed by him in connection with the audit of the accounts of the Society shall have the same rights, privileges and authority in connection with such audit as the Comptroller and Auditor-General of India has in connection with the audit of the Government accounts, and, in particular, shall have the right to demand the production of books, accounts, connected vouchers and other documents and papers and to inspect the office of the Society.
(4) The accounts of the Society as certified by the Comptroller and Auditor-General of India or any person appointed by him in this behalf together with the audit report thereof shall be forwarded annually to the Central Government and that Government shall cause the same to be laid before each House of Parliament.
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- 1 Short title and commencement
- 2 Declaration of Asiatic Society as an institution of national importance
- 3 Definitions
- 4 Grants, loans, etc., by Central Government to Society
- 5 Audit of accounts of Society
- 6 Annual report
- 7 Prior approval of Central Government necessary for certain action by Society
- 8 Planning Board
- 9 Committees
- 10 Review of work done, inspection of assets, etc
- 11 Society to afford facilities to Committees
- 12 Power to issue directions to Society
- 13 Power of Central Government to assume functions of control
- 14 Act to have overriding effect
- 15 Power to make rules
