Funds, accounts, audit and Annual Reports of the NIRMAN Kshetra Authority

§36

Summary

36. (1) Subject to the provisions of this Act, a NIRMAN Kshetra Authority may create such funds for such purposes as it may determine from time to time, to which, shall be credited all moneys received by it, including, - (a) initial contribution by the State Government towards a revolving fund of ₹500 crores to be established by every NIRMAN Kshetra Authority under this Act; (b) all money received from the Central Government, State Government, or any other person by way of grants, donations, loans, advances or otherwise; (c) all fees and user charges received by the NIRMAN Kshetra Authority under this Act; and (d) all moneys received by the NIRMAN Kshetra Authority towards lease, premium or cost of land and/or building. (2) The fund shall be applied towards meeting the expenses incurred by the NIRMAN Kshetra Authority in performing its functions and for administration of the provisions of this Act. (3) The accounts of the Regional Development Authority shall be prepared and maintained in such form and in such manner as may be prescribed by rules. (4) The Accounts of every NIRMAN Kshetra Authority shall be subject to audit in the manner as may be prescribed by rules. (5) The Regional Development Authorities shall pay from their funds the charges for their respective audit as may be prescribed by rules. (6) The Authority shall prepare, in such form and at such time each financial year as may be prescribed, its annual report, giving a full account of its activities during the previous financial year, and submit a copy thereof to the State Government. (7) The State Government shall cause the annual report and auditors’ report to be laid, as soon as may be after they are received, before each House of the State Legislature.

36. (1) Subject to the provisions of this Act, a NIRMAN Kshetra Authority may create such funds for such purposes as it may determine from time to time, to which, shall be credited all moneys received by it, including, - (a) initial contribution by the State Government towards a revolving fund of ₹500 crores to be established by every NIRMAN Kshetra Authority under this Act; (b) all money received from the Central Government, State Government, or any other person by way of grants, donations, loans, advances or otherwise; (c) all fees and user charges received by the NIRMAN Kshetra Authority under this Act; and (d) all moneys received by the NIRMAN Kshetra Authority towards lease, premium or cost of land and/or building. (2) The fund shall be applied towards meeting the expenses incurred by the NIRMAN Kshetra Authority in performing its functions and for administration of the provisions of this Act. (3) The accounts of the Regional Development Authority shall be prepared and maintained in such form and in such manner as may be prescribed by rules. (4) The Accounts of every NIRMAN Kshetra Authority shall be subject to audit in the manner as may be prescribed by rules. (5) The Regional Development Authorities shall pay from their funds the charges for their respective audit as may be prescribed by rules. (6) The Authority shall prepare, in such form and at such time each financial year as may be prescribed, its annual report, giving a full account of its activities during the previous financial year, and submit a copy thereof to the State Government. (7) The State Government shall cause the annual report and auditors’ report to be laid, as soon as may be after they are received, before each House of the State Legislature.

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