Amendment status not verified — confirm the current text below against the official source.
Credits to capthil accozun.-'—Thcrc IiaU be crodited to the capital area iii t--- (a) all sutos (ccp interest) reccived by way of bettermeit fies under this Act ; i,b) all xncmeys icceived on tccount of loans.çkiz by the Board in pursuance of this Act all inoitcys received as grants by tic l3oard forp141'ppses of this Act ) (ruin the Central or State Government all moneys received by the h3oard 'on account of lepaymenc of loans and adyg;iccs gian led under scqtion 92 (c) the pt'UceC(lS or the salc of ny !l't,cj belonging to the oarçl, which was pqrchasecl out of any suih loans or gii1ts (I) where any 19114 was purchased ut of an 4dvance from, the 1C\'CfllIO account, the portion of tlt proceeds of the sale f such land which remains after crediting to the revenue adouut' the amount of such adva ii cc (i-) the procceds 01 the sale of any hiovable property (including sectitities for mone) , invested horn the Capita!accougt) belonging to Like Board all Iqiup sum rccci'cd from any Government in aic of th e capital account ; all Iuo rcys received by the Board in connection with leases for afly term exccedi0g forty years all sums, if any, Which the Go,vcrnmet direct under stibsctioi (2) at section 11.5 to be credited to the capital accouut ; and all woncys iealiscd from the sale of securities by direction of the GOVernment under' Section 116. ii 3 . 4/jp1icaein of capital acouat—.TJie moneys crediied to the capital account shall be held by the Board in trust and slial I be applied to - 'a) meeting all .csts of framing and executing housing or flUpiOVeiuent schemes S. 3741580/2019/OS-HOUSING 196 43 • (b). • meeting the cost of acuirir1g Iaiid lhr currying out any of the purposes of this meeting the cost of constructing buildings rcquired for carrying oUt any of the urpOse of this Aet; r(d) the rcpayni1t of loansfrom money borrowed in 15ursuance of thisAct ; (c) giaritiflg of 1oths 'uid ids1a3ices under seCtion 41 and 92 thu!dng p tynients in pUsuancc of section 149 tliei wise than for isiterest or r ece imintãtiahcoi' working; snaking or contx'ibut gtQWards the cost of survey its pursuance of sct(o 141 . (Ii) meeting such roportiôn Of the cost of niangeinent as may be prcsi1bcdby tliq:Eoard.; and .() •tohperari1y making good tile deficit, ii any, ii the revenue a6count at the. end of ay year. 114 Cutht to rvcnue dcoithd rheic shill be ciedin d to the revenue • •aecbut.— all interest re( civul in usu tne of scctloii or sectioYs 78 all anntrdI 1 recuihng stms rcccived from the Central or State I Govorftrnct in nid of tI'e funds of tli Do ud ali oipcnsatioiisreehd by the Boaid under section 132 • d) n]f nidneys recôivcd by , the Bbard in connection with leases for any term not cxcccding forty years (e) all rerIt of land vested n the Boird tf) tl1 rCats ol bu1dbg,,Vesd in tlic Bois ti ()g) thd supervision 9ict cenage chrgcs obtamcd by the Board I under section 68 (Ii) all nitesest on loans aj adv mcci gr mtd by the Boaid midem sectIons 41 and 92 , anti i) nil other , receipts by'jhP036Atd which ire not required by 5eót10 112 to be crCditd to the capitil acdount 11 5 4pp1icahoi of revenue acoun1 —.(1) I ho modeys credited to the reve appi ut account shall b held by the J3o'ud in trust, and shill he d! t&- a) payment of all chargcs or payments towards interest on sinking fund clUe on account of any loan tiken n pumsuance of this Act, : 1 and all othereharges incurred in conUectioñ with such loans; (1,) payment of all sums clue from the Bo'srd in respect of rates and tates imposed by the local authority concerned, upon the land • vested ill the Board ; • •• • 3741580/2019/OS-HOUSING 197 44 ( paymiit of cost s ii any, of mailitai ll ,n sep itc etablishixieit for the collection of rcns and other poceels of lald. yested n the Boarçl ; ..• .• (Cl) payment of All sums towards the cQst of Tribunal under scçtQn 8 g. (e) payment of 411 sums which the Govcrniticnt ii' diret to be aid to any , aucitoi' under sectioi; i V • (1) payment o the cost of 'na1Iagcn(Jnc ?1C 1tIcJfr1g e11prQportjot thereof as may be dbitcd totli. ;capital aecunt undr clause (h) of ection 113 ; and ; •V. V V . V (g) payment of all other sums clue .frcrin the BQard, oUethan tlióss V V which are required by Section 113 to bs di ~jjllrS `Ccj from the capital accowit. (2) l'he surplus, if any, ieinàining after making tl payrnedts eièxreçl to in subscction (I) sha11 subject to the maitieuaiiëe of t closjrl as requied by sub-sect ion (2) of seCtion 109, fte irveteci. in he rniuei laid (lOWir ill section 101 towards the .sc'vzco ci any ta4iding af'tr the expiry of sixty years from the cOnitneiiccnen( fV Act ws1ss t] Govwnnwiit otherwise direct. Power to (Ieec sjile of secri1is ía a/ic/i any pirpliq of. flie revenue (zccoOflt i3i,wcted.-1f' ikt aflv time aitci' any Surpltt.s iclerrert to ii ?Ub SCctio (2) or sct;si.ori II fi fuss been invested, the 130ardis •satifleçj that the invest- BICVUt is not iicected for the srvicc of tny loan rqfei'red to in that subsection, the l3oar4 may with the approval of the Govcriuient, sell the ecurities held under the investment, Advanc5fro ,n revenue account to CZ. i1aI (iCpOfll,-- ( ) Noiwithitaissling anything contained in SeCtiOn 115 tile Board rny adVATIce any qm ancing at the rcdit of evenuc account for the purpose of ineetwg cpnal expenditure (2) Eveiy such advance shall be refunded to the re,enue acco;pt as soon as may be practicable V 118. ldvancs from cnpj(nI accoUnt t revenue accQ;nt..(i) Any euiçit • jj . the revenue account at the enti of any y ear may be rnde,goad,by Ali :Y• • V advance fiVOfli the capital account after obtaining the approval of the Government. (2) Every such 4dvance shall be refuuclecj to the capital aCCOLint in the fo11owiri year, Submission of obstrUcts of accoicits to Qover,unent.—,At. the eiscj of every ycal, the Board shall submit tpthe Gover'nmwii all abitract.of tliq accounts V of its teceits and expenditure for such year, V Annua( audit v/ cccoignls;--T1ic ncc)tsiirs of the Board . shall be V exainiiiecj anc1 audited once in every year by such auditor as the Government may appoint in thia behalf. V V wil •....... 3741580/2019/OS-HOUSING 198 45 H 11 Powers, of a;4ü1or. (1%.) H. Ji>sttmrnons is •t. [CU1O' exaqiiliJ • 1ttcidaticn of the • .(l) ., by surrrnons iu wr. or conroi of sty 5 to appear in po require any person. • with respect t •,su • •.: to prepare audi fu 122 J?eyiiU/T(t(),t üf a(e/iIor • stcls rC1rtufleraton as the Govt 123 i?cports cjed for,jjajtnt • r, ci,rI;tr,r ')II - The' said aucjttor iflty- :g rccluire production of any document, the (166 ~ o,f which h 1)CheVe.s rlccc'sary lr the ccouhts iing quii'o any 1)e'oLt Will) has the custody uch cI900meni or jlo is accou,stable tljerehji' : before him ; and s 4ppearing to make and sign a declaration document oi' to answer any question or 'jtish £lnv statement i'elating thereto, 's1: -.The J)oard shall pay to the said auditor 4nment may direct. be.fsrm:js/sed by Audiiy to //se Board. — (1) - •• report to the. Ooa'cl anti to the (.ove'ntnent atiy tiLateriol illipropriety Or. p*gulitt'ity. VIiIC1'I he utis' observe iii the cxpenchitue, QV H tie' recoVer at' moneys clue to the Board ) or in the ccOus (li) •furuish to the. 13oar4isdch inrorination as it tay, !'I'o:u tim: to tirne, req4ire COflCC'ning the progress of' his audit report to the QJtairrian any loss or Waste ol' mottey 01' other property owned by,9r vested in, tls Board caused by aegl.:ct or misconduct, with4 the rtamls of petsosis directly or indirectly • . rcspoisible for such jloss or waste ; and • (d) submit to the Qhnirtoan a final scalement of audited accounts togeUser with a repdrt on the resu i Of the audit, and duplicate copies thereof to the Govrnrn'rtt, within a periol of' ttu're jnths from the end of the year or within such othei' 1)eriod as ..........the Qoveinment may allow in that beit1f; • (2) , () The said auditor rhay disallow every item contrury to law and surohrge 'the s4rne on the . person making or autliorising titc snaking of • the •megal payment ; atd may •charg against any p('l'so)l responsible thereof the amount of an'y deficiency or ios.s incurred by the negligence QU WsQQndUct of that person, or., f nay sum which ought to have bccn, but, is not, hs'ough into accoun by that perswi and 'shall, in cery such case, certify the amount due from such Petson, • Explanation —It shall not be. open to any person whose negligence or misconduct has caused or coztributed to any such cicIlciency 01' tus to contend that notwithstanding his eghigcnc Or .ITIISCOUdUCL the deficiency or • loss would not have occurect but for the negligence ot' iniSC0JldLt*CI of some other. person. The said auditor shall state its \Vritiilg dw reasons 661 his decision in respect of every 'disallowance, s stt'chiti-ge of charge and lurtlishi a copy thereof by registered post to the person against whom it is inacte. Ag 3741580/2019/OS-HOUSING 199 46 • (c) ir the p(i'sOii to whorn a copy of the decision is so furnished rehises to rccc;vc it, he shall nevertheless be decrncd to have been duly furnished with time copy, withifl the meaning of' clause (b) and the period •of fOlij'tCCii days fixed in subsctjons (3) and (4) shall 'be cacuIatêcl from the date of such re 1usai (3) Any perscii aggrieved by a disaliowàncc, surcharge or charge made uimcicr subsection (2) may, withiu fourteen clays iift.er he has been furmimshiaj, With a copy of the decision of the tiuditor, either (a) apply to the couri ol the SuborJimiatc ,Judme or if there is u Subordi te' judge's Court having jurisdiction, to the Court of the District judge to set We such dis.tI inivance, surcharge or charge, in whih cac the Court may, abet' liking such evidence as it thinks, necessary, cOnfirm, modify, or remit such disallowance, surcharge, or charge. with sucir orders as to costs as it may 1 huik proper in the circumstances, or (b) in lieu of. such applicanoti, appeal to the Government who shall pass such' ordrs as they think lit. ('I) Evcry sit' ii certified to he due fi.eon .aiy person by the , auditor under this Act, 3hall be paid by such person to the 'Board' within l'our{amt diys aI'tcr he has been Iiu'nishecl with . copy of lhc decision of the aim' ImI 'm' U11100 Whin ihi:it time suA p'tsomi has applied to the court or appodel to time Govemnuiemit against the dcisimi under subsection (3) mmd such simui if not paid or such sum as lie Oourt or t.he'Oovern- mciit shill Marc to be du', shall he rm:covdrable Oh an application nmdi by t'te Bmvd to the Coart in the satime wayl as an /unout'it decreed by N. () Noiwitiistiuuhiig anytiurig containc I in Us guction, the Government • may at ativ ih,r ' that tie rovery id the whole or Any partol the aIriO,nit ccrtilti:d to I, due ironi any person by ii' e auditorunder'. this Act shall be waived il' in their opitiia.-n such a coure i, necessary considering all time circumstances or the case. . . 121, ilieütor's rt/iurt to he sent to cacij'mmtnjber a d considered' by Beard.- I Jic hi cit mini shall cattyc the ropoil inentionccl ixilcianse (ci) of sub section (1) oF section 12 li be pm mnted ani shall In Wa! cia P1ntCd copy thereof to each mu' nibci intl sit ill I, tog such i cport befot c thh JJo-ircl fbi consideration at its nex( mmmeeting. • ' I • i/on, d 1,i ,n, dr ds/ ci, botu 1,' 1 nit by aueiit )i a id to stthin t a , eport to P Govenmnmemml It ,h cli Wdti ditty of thto B 'iam 1 1 to ic ned'' lot tlttith any detects 01 irragularitiesj0d ram y be poinhc ci outl by 'the auduot and to subnut a i ITOI t thtt.m ('')n to the Govt inmcnt Accou i/S iiitd (twit I li ipo, 1 (0 be to, mi'srl ito Go)er 1t1 if (Hi placed before 1/me [a c/it ' hi nb5 —(1) lh accjunts ol ilid Boald as certified by the Audmtom Ugether wmtic the audit mep N I theme m shill h 1 lot w tided uiriu1ly to the Govci'nimicnt, and' t) Govcrnmnriit mniy issbc such imist'ructiozzs to the )toai ci in m cp ci tb r , thy de n 1t, -s i i th lo 'std shilI comply wIth such tush uclions I a. • • ', '' Ic' 3741580/2019/OS-HOUSING 200 47 (2) fThc Government shall--- (a) cause the 4cCounts: oFt1e loavd together with the audit report thereon forewaded to them imlr sL).ec Lion (1) to be laid annually beloje the Legislative Asserholy ;! antI the tccbuut ol the l),ar.t to he 1tthl ilad in ti - preset 1. eLI, mutler onui fillale uvailaljlc copies tlxezeoi' o il sale at : reasonable. piice; S • •. C.IAPTJLI XIII P NALTIljS AND PRO CEDURE