Amendment status not verified — confirm the current text below against the official source.
(1) The balance-sheet and accounts of the Development Assistance Fund shall be prepared in such form and manner as may be prescribed. (2) The Board shall cause the books and accounts of the fund to be closed and balanced as on the 30th day of June each year [or such other date, as the Central Government may, by notification in the Official Gazette, appoint]: [Provided that with a view to facilitating the transmission from one period of accounting to another period of accounting under this sub-section, the Central Government may, by order published in the Official Gazette, make such provisions as it considers necessary or expedient for the closing and balancing of, or for other matters relating to, the books or accounts in respect of the concerned years.] (3) The fund shall be audited by one or more auditors appointed by the [Development Bank] under section 23 who shall make a separate report therein. (4) The provisions of sub-sections (2), (3), (4) and (6) of section 23 shall, so far as may be, apply in relation to the audit of the Development Assistance Fund. (5) The Development Bank shall furnish to the Central Government [x x x x] within four months from the date on which the accounts of the fund are closed and balanced, a copy of the balance sheet and accounts together with a copy of the auditors' report and a report on the operation of the fund during the relevant year and [the Central Government shall, as soon as may be after they are received by it, cause the same to be laid before each House of Parliament]. Ins. by Act 35 of 1986, sec. 9 (w.e.f. 14/08/1986). Ins. by Act 66 of 1988, sec. 28 (w.e.f. 30/12/1988). Subs. by Act 52 of 1975, sec. 13, for "Reserve Bank" (w.e.f. 16/02/1976) and again subs. by Act 5 of 1995, sec. 16, for "Central Government" (w.e.f. 12/10/1976). The words "and the Reserve Bank" omitted by Act 52 of 1975, sec. 13 (w.e.f. 16/02/1976). Subs. by Act 52 of 1975, sec. 13, for certain words (w.e.f. 16/02/1976).