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Finance, Accounts, Audits, and Reports under West Bengal Housing Industry Regulation Act, 2017

Grants and loans by State Government (Section-70):-The State Government may, after due appropriation made by State Legislature by law in this behalf, make to the Authority, grants, and loans of such sums of money as the State Government may think fit for being utilized for the purposes of this Act.

Constitution of Fund (Section-71):-

  1. The State Government shall constitute a fund to be called the Housing Industry Regulatory Fund and there shall be credited thereto,-
    1. all Government grants received by the Authority;
    2. the fees received under this Act;
    3.  the interest accrued on the amounts referred to in clauses (a) to (b).
  2. The Fund shall be applied for meeting-
    1. the salaries and allowances payable to the Chairperson and other Members and the administrative expenses including the salaries and allowances payable to the officers and other employees of the Authority and the Appellate Tribunal;
    2. the other expenses of the Authority in connection with the discharge of its functions and for the purposes of this Act.
  3. The Fund shall be administered by a committee of such Members of the Authority as may be determined by the Chairperson.
  4. The committee appointed under sub-section (3) shall spend money out of the Fund for carrying out the objects for which the Fund has been constituted.

Crediting sums realized by way of penalties to Consolidated Fund of State (Section-72):- All sums realized, by way of penalties, imposed by the Appellate Tribunal of the Authority shall be credited to the Consolidated Fund of the State.

Budget accounts and audit (Section-73):-

  1. The Authority shall prepare a budget, maintain proper accounts and other relevant records and prepare an annual statement of accounts in such form as may be prescribed by the State Government in consultation with the Comptroller and Auditor-General of India.
  2. The accounts of the Authority shall be audited by the Comptroller and Auditor-General of India at such intervals as may be specified by him and any expenditure incurred in connection with such audit shall be payable by the Authority Comptroller and Auditor-General of India.
  3. The Comptroller and Auditor-General and any person appointed by him in connection with the audit of the accounts of the Authority under this Act shall have the same rights and privileges and authority in connection with such audit as the Comptroller and Auditor-General generally has in connection with the audit of Government accounts and in particular, shall have the right to demand and production of books, accounts, connected vouchers, and other documents and papers, and to inspect any of the offices of the Authority.
  4. The accounts of the Authority, as certified by the Comptroller and Auditor-General of India or any other person appointed by him in this behalf, together with the audit report thereon shall be forwarded annually to the State Government by the Authority and the State Government shall cause the audit report to be laid, as soon as may be after it is received, before the State Legislature.

Annual report (Section-74):-

  1. The Authority shall prepare a report once in every year, in such form and at such time as may be prescribed by the State Government which shall contain:-
    1. a description of all the activities of the Authority for the previous year;
    2. the annual accounts for the previous year; and
    3.  the programs 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 the State Legislature.

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