Powers of the Authority

(1) Subject to the provisions of this Act the Authority may carry on such activities as appear to the Authority to be advantageous, necessary or convenient for it to carry on for or in connection with the discharge of its functions under this Act and, in particular, the Authority may exercise one or more of the powers specified in the Second Schedule.

(2) The Authority may, in addition to the powers vested in it by sub-section (1), exercise such other powers as the Government may authorise it in writing.

(3) The Authority shall, when it is exercising powers authorised by the Government under sub-section (2), be deemed to be exercising powers vested in it by sub-section (1).

(4) This section shall not be construed as limiting any power of the Authority conferred by or under any other law. Any person who fails without any reasonable cause to comply with any requirement of the auditor under paragraph 10 or who otherwise hinders, obstructs or delays the auditor in the performance of his functions under this Act shall be guilty of an offence and shall be liable on conviction to a fine not exceeding Rs. 10,000 and, in the case of a continuing offence, to a further fine not exceeding Rs. 1,000 for every day during which the offence continues after conviction.