Amendment status not verified — confirm the current text below against the official source.
Powers and functions rif the l!..xecutive Committec.-(1) The executive committee shall have the following powers and functions, namely - (a) to approve a concessiOn agreement with respect to a tran~p01 t facihty proJeCt on the ba~is of the Criteria formulated by the Board, and (b) to sanction funds to a Government agency or a concessionaJIC for constructron of a trans pOI t facility and monitor or mpcn'lSe such ti ampo1 t facility proJects and expenditure 111curred thereon, (2) Subject to such restnetlon~, condition~ and limitation~ a~ lll<'.y be imposed by the Board the executive committee ~hall aho cxercr<< all oi ~ny of the powers and function~ of the Boa1 d under tim Act. (3) The executiVe comffilttcc shall also cXci CI~c \UC!t P' \\'ei '> and functions a~ may be specified by regulation<;. CI-Jo\PTLR III KERALA ROAD FUND G. Establishment rif Fund.-(!) A'i soon a~ may be afte1 the constitution of the Boa1d, there shall be cstabii<hcd a Fur,d to be C.!.lkd the Kc1ala Roc;.d Fund (2) There shall he credited to the Fund,- • (a) all moneys received fiom the Cential RoaJ Fund established under the CU1tral Road Fund Act, 2000 (Central Ac1 54 of 2000), (b) the contribution made by the Go\·emment undei sub-section (3), (c) all fees, fines and other amount collected by the Govemment as per the p10nsiom of the Kerala Hrghway Protcctron Act. 1999 (6 of 2CCO;·, (d) all payments made by the coneess10nauc a~ per the concession agicemcnt; (c) all amount standing to the creditof the Bndge~ Fund cstabh~hed under ~ectwn 12 of the Kcra.la Tolls Act, 1976 (6 of 1977); ~ (f) the user fcc~ collected by the Government agency or the statutory body under this Act; 143 (g) ~rant~ or loan~ or advance~ made bv the Government of India or any mstitut-Ion; (h) grants or loans or advances made by the Govemment; (I) all retums on mvestments made by the Board dJJ LCtly or tl11ough a Government agenc) or statutoiy body, (j) any amountbonowed by the Boa1d. (k) any other amount authomcd fo1 Cl edit to the Fund under the provisionsoftlu~Actorrulc~made thercunde1 or any other lr.w !01 the t1rne bemg m fore~ (3) The Government ~h< ll conti·1butc 10 the Fund every ye.-.r an amount equal to ten per cent of the tc.:-.. collected by tLcm m the p1eviOm year under the provis10n.s of the Kcrab. Motor Velucle~ Taxation Act, 1976 ( 19 of 1976), and the said amount shall be ckugcd on the Con~ohdated Fund of the State. (4) The amountstandmg to the rrrditof the Fund may be utlh~cd for all or any of the followmg purpo~e~, namely - (a) for providmg financial a>sistancc to a conce~s10nan r on behalf of a Government agcnc: m Ic~pect of a hansport facility approved by the • Board. (b) for mectmg any development cost. (c) for defraymg tlte .1.dmnmtratl\ e expense<> of .the Board, and~ (d) for meetmg any !'X pend Iturc as may be p1 escnbed . • (5) The balan<.<' to ti1e ned It of the lund ~hall not lapse at the end of the financial year. (6) All mone)S specified ni sub-scct10n (2) and formmg pa1 t of the Fund shall be deposit, d m any natiOnalN:d ni ~cheduled Bank.' S1atc Co- opeiatlve Bank or D1~tnct Co-operative Bank or m such other finanCiill msti- tutJOns as may be decided by the Boa1d and tl < said account shall hr <- pcrated by the Member Scerc tary of the Board m ~uch manner as may be sp<.L died by I egulatlons · Provided that the Board may invest any sum not required for lllllnediatc me m such ~ecunLics or debentures as may be approved by the Board 7 Arcounts and Audzt.-( l) The Board shall cause to be main tamed such books of accounts and othez books in relation to It~ accounb <1nd prepa1e an annual statement oJ accounts and balance sheet m such form and In such manner as may be specified lll the regulations. 144 (2) The accounts of the Board ~hall be audited by such .md1tor appointed hy the Board With the permimon of the Government. (3) The accountsofthc Board a<; certified by the auditor togethc1 W1th the audit report thereon shall be forwardc_d annually to the Government and it shall cause the ~a me to be laid annually befo1 e the Lq,I~Iatn e A~stmbl~ CHAPTER IV CONSTRUCTION OF TRANSPORT FACILITIES ANp LEVY OF USER FEES 8 Powe1 cif Govemment agencies and statuto')' bodzes to enter into concessio1z agreements.--(!) Notw!th~tandmg anythmg con tamed m the Kerala Highway Pro tect10n Act, I 999 (Gof2000;, or in any other Jaw for the tunc being m force, any Govcllllllcn t agency or With the pe1 misSion of the Government any statutory body may entc1 mto a concession agreement m acco1dancc Wlth the p1 O\"I'>Ions of tlus Act for the como uct10n of a transport facility. (2) \\Then an agreement Is entered mto undeJ sub-sccuon (!) the cow·esswnane o1· tl1e Gove1nmcnt agency o1 the statut01y body, as the con- • cc<;<;Ion agl'eemcnt may provide, is entitled to levy and collect user fees on a ,A_ moto1 vehicle usmg the tramport facility of mch rate, for services or benefits I< nde1cd by hun wl11ch shall be fixed by the Board com1dering the expenditure mvolvcd in bUildmg mamtenance, management and opel auon of tlte whole 01 pa1 t of such transpo1 t f<~.cility, mtcrest on capital mve~ted, reasonable Ietum, the volume of traffic and the pe1 iod of ~uch agreement· • P10vided that the user fees collected by a concessionaire l>hall be 1etamed by hun and uuhscd m accordance with the proviSion of the concessiOn agreement. (3) The concessionaire or tl1e Government agency or the statuto!) body, as the ca~e may be, shall have powers to regulate and control the traffic in accordance w1th the provisions con tamed in Chaptc1 VIII of the Motor Vehicle~ Act, 1988 (Central Act 59 of 1988) on the loads 01 the bridges and tunnels togcthe1 With the1r approach and eXIt roads formmg whJ<..Ct mattu of<;uch concessiOn agreement for proper management thereof. 9 Approval cif Transport Fac1lzty Projecls.-(1) A proposal of a Govern- ment agency or a statutory body fo1 parucipauon by a party m financmg consu uct1on, 1 c-construction, Improvbation, repair n1amtenance or operation of a transpo1 t facility shall be loiWardcd through the proJeCt management agency to the .Member Secretary along with mformation relating thereto as may be p1·cscnbed b) re;5ulatJOm. 145 (2) As soon a~ may be after the rccctpt of the propo~al under sub- ,cctlon (!), the M·~mbcr s~c.·etary ~l1all place the same for the consideration of the executive committee. (3) Thecxecuti've comnuttee shall constdet It along Wlth the concession agreement and retutn 1t along with the concession agreement to the Govern- ment agency_ or to the statuto!) body concerned with .modifications or recommendatlon, tf any. (4) The Board and the Government agency or the statutory body concerned may enter into a concession agreement with a person who is selected through a competitive pubhc bidding or in the manner prescribed for the financing and construction of a transport facility. (5) A concession agreement may provide that the Board may revise the user fees, referred to insub-sectton (2) of5ectton Shaving regard to the rate of inflation, variation in the rate of forctgn exchange and such other factors, as may be prescribed. ·