Cement, Energy and Environment

26 and forwarding the same to the Central Government. in such form and at such time in each financial year as may be provided by rules mack by the Central Government Wlder the propose-d legislation_ It also seeks to provide that the National Authority shall adopt financial regulation and procedures. in particular the procedure for dra\ving up and implementing the budget of the National Authority as may be provided by rules made by the Central Govenunent Wlder the proposed legislation_ Clause 21.- This clause seeks to provide that the National Authority may invest its funds. including any reserve fund. in the securities of the Central GO\·emment and in scheduled banks in such manner as may be provided by rules made by the Central Govemmenr under the proposed legislation_ Clause 22.- This clause seeks to provide for maintenance of accounts and audit of the National Authority. It further provides that the National Authority shall maintain proper accoUllts and oUter relevant records and prepare an annual statement of accounts in such form as may be provided by rules made by the Central Government Ullder the proposed legislation in consultatim1 \vim the Comptroller and Auditor-General of India. It also provides that the accowlts of the National Authority shall be audited by tlle- Comptroller and Auditor– General of India at such intervals as m<l)' be specified by him and any expenditure incurred in connectionwith such audit shall be payable by the National Authority to the Comptroller and Auditor-General. It also seeks to provide that the Comptmller and Auditor-General shall. within a period of six months from U1e d:ne of commencement of the proposed legislation. audit the accounts of all the monies collected by the State Governments and Unim1 territory Administrations. which has been placed unckr the ad hoc authority and submit the report to the Central Government. Clause 23 .-This clause seeks to provide for preparation and forwarding of a copy to the Central Goverrunent. of the aruma! report of the National Authority. giving a full account of its activities during the previous finanCla:l year. Clause 24.-This clause seeks to provide for laying of a copy of ammal repo11 and audit report of the National Authority togeU1er with a memorandum of actio:r1 taken 011 the recommendatiOllS contained therein before each House of Parlianu~nt. Clause 25.- This clause seeks to provide for preparation of budger for the next financial year. sho\x..ing the estimated receipts and expendirure of a State Authority and forwarding the same to the concemed State Govem.ment. in such form and at such time in e.ach financial year as may be provided by rules made by the Central Government under the proposed legislation. It further seeks to provide tllat Stare Authority shall adopt financial regulation and procedures. in particular tl1e procedu.re for dra\\-'ing up and implementing the budget of the State Authority as may be provided by rules made by the Central Government under the proposed legislation. Clause 26.-This clat1Se seeks to provide that State Aulhority may invest funds available in the State Fund w1der public accmmts of such Stare in the senuities of the Central Government and in scheduled banks in such maru1er as may be provided by roles made by the Central Goveromrnl under the proposed legislatlon. Clmtse 27.- This clause seeks to provide for the maintenauce of accounts and audit of State Authority. It further provides that the State Authority shall maintain proper accounts and otller relevant records and prepare an annual statement of accounts m such ~ortU: as may be provided by rules mack by the Central Government un~r the propose~ legtslauon in consultation \ \i.th tlle Comptroller and Auditor-General of India. It also provtdes that the accounts of the State Authority shall be audited by U1e Comptro~er~ Audit?r Gener~ of India at such intervals as may be specified by him and any expenditure mcurred 111 connec_uon with such audit shall be payable by the State Authority to the Comptroller and A~~or­ General It also seeks to provide that the Comptroller and Auditor-Genc::at ~all. \\l.~ a ·od ~f six months from the date of commencement of the proposed leg~slatlon._ audit the =aunts of all the monies which have been transferred by the ad hoc Authonty to the 57