FUND, ACCOUNTS AND AUDIT
The Central Government may, after due appropriation made by Parliament by law in this behalf, pay to the Commission in each financial year such sums as the Central Government may consider necessary for the performance of the functions of the Commission under this Act.
- The Commission shall have its own fund all sum which may, from time to time, be paid to it by the Central Government shall be carried to the fund of the Commission and all payments by the Commission be made therefrom..
- The Commission may spend such sums as it thinks fit for performing its functions under this Act, and such sums shall be treated as expenditure payable out of the fund of the Commission.
- All moneys in the fund shall be deposited in such bank or invested in such manner as may, subject to the approval of the Central Government, be decided by the Commission.
The Commission shall prepare, in such form and within such time, each year as may be prescribed by rules, a budget in respect of the financial year next ensuing showing the estimated receipts and expenditure, and copies thereof shall be forwarded to the Central Government.
The Commission shall prepare once every year, in such form and within such time as may be prescribed by rules an annual report giving a true and full account of its activities during the previous year, and copies thereof shall be forwarded to the Central Government, and the Central Government shall cause every such report to be laid before both Houses of Parliament.
- The Commission shall cause to be maintained such books of accounts and other books in relation to its accounts in such form and in such manner as may, in consultation with the Comptroller and Auditor General of India be prescribed by rules.
- The Commission shall, as soon as may be after closing its annual, accounts, prepare a statement of accounts in such form as may be prescribed by rules, and forward the same to the Comptroller and Auditor General of India by such date, as the Central Government may, are consultation with the Comptroller and Auditor-General of India, determine.
- The accounts of the Commission shall be audited by the Comptroller and Auditor-General of India at such times and in such manner as he thinks fit.
- The annual accounts of the Commission together with the audit report thereon shall be forwarded to the Central Government. and the Central Government shall cause the same to be laid before both Houses of Parliament and shall also forward a copy of the audit report to the Commission for taking appropriate action on the matters arising out of the audit report.