CHAPTER VI FINANCE, ACCOUNTS AND AUDIT

51. (1) There shall be constituted a Fund to be called the Forensic Regulatory and Development Authority of India Fund, and there shall be credited thereto—

(a) all grants made to the Authority by the Central Government;

(b) all fees and charges received by the Authority under this Act; and

(c) all sums received by the Authority from such other sources as may be decided upon by the Central Government.

(2) The Fund may be  used for meeting  the purposes mentioned below—

(a) the salaries, allowances and other remuneration of the Chairperson, Members, other officers and other employees of the Authority and allowances, if any, payable to the members of the Appellate Authority;

(b) for providing research grants under this Act;

(c) other expenses of the Authority in connection with the discharge of its functions, and for purposes of this Act.

52. (1) The Authority shall prepare a budget, maintain proper accounts and other relevant records, and prepare an annual statement of accounts in such form as may be prescribed by the Central Government in consultation with the Comptroller and Auditor-General of India.

(2) The accounts of the Authority shall be audited by the Comptroller and Auditor General of India at such intervals as may be specified by him, and any expenditure incurred in connection with such audit shall be payable by the Authority to the Comptroller and Auditor General of India.

(3) The Comptroller and Auditor-General and any person appointed by him in connection with the audit of the accounts of the Authority under this Act shall have the same rights and privileges and authority in connection with such audit as the Comptroller and Auditor-General generally has in connection with the audit of Government accounts and, in particular, shall have the right to demand the production of books, accounts, connected vouchers and other documents and papers, and to inspect any of the offices of the Authority.

(4) The accounts of the Authority, as certified by the Comptroller and Auditor-General or any other person appointed by him in this behalf, together with the audit report thereon shall be forwarded annually to the Central Government by the Authority, and the Central Government shall cause the audit report to be laid, as soon as may be after it is received, before each House of Parliament.

53. (1) The Authority shall prepare once every year, in such form and at such time as may be prescribed by the Central Government, an annual report giving,—

(a) a description of all the activities of the Authority for the previous year;

(b) the annual accounts for the previous year; and

(c) the programmes of work for the coming year.

(2) A copy of the report received under sub-section (1) shall be laid, as soon as may be after it is received, before each House of Parliament.