w w w . L a w y e r S e r v i c e s . i n

Section 14

Deposits of Fund and placing of accounts and audit report before the Government

(1) All moneys and receipts forming part of the Fund shall be deposited in the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934, or in the State Bank of India, constituted under the State Bank of India Act, 1955, or any corresponding new Bank as defined in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, or any other schedule bank or the State Co operative Bank or such other co operative bank as the Government may notify in this behalf and the bank account shall be operated upon by such officers of the Board as may be authorised by the Board and in such manner as may be prescribed.

(2) The accounts of the Board as certified by the auditor, together with the audit report thereon shall be forwarded yearly to the Government and the Government may issue such instructions to the Board in respect thereof as they may deem fit and the Board shall comply with all such instructions. A copy of the accounts of the Boards certified by the Auditor together with a copy of the audit report thereon shall be laid on the table of the Legislative Assembly of the State.