Chapter IV FUND, FINANCE, ACCOUNT AND AUDIT

1. (1) The State Council shall have its own fund and the following receipts be credited thereto-
   • (a) fees, royalties and charges including penalties, levied and collected, by the Council;
   • (b) grants, assignments, contributions and loans, if any, made to it by the Government;
   • (c) bequests, donations and endowments or other contributions, if any;
   • (d) interest on, and sale proceeds of, any securities vested in it;
   • (e) all rents and profits from the property vested in it;
   • (f) other moneys received by, or on behalf of, the State Council.
2. (2) The State Council may keep in current or saving deposit account with the State Bank of India or with any Scheduled Bank as defined in the Reserve Bank of India Act, 1934 (II of 1934), Banking Regulations Act, 1949 (X of 1949) or with any other bank approved by the Government in this behalf, such sum of money out of its Funds as may be prescribed and any money in excess of the said sum shall be invested in such manner as may be approved by the State Council.
3. (3) Such accounts shall be operated upon by such officers of the Council as may be authorised by it by regulation made in this behalf.

The State Council shall pay every year of its Fund to the Government such amount as the Government may determine on account of the salary, pensions, leave and other allowances of the Chairperson and other officers posted in the State Council and Regional Councils by the Government.

Subject to the provisions of this Act, the fund of the State Council shall be applicable only to the payment of charges and expenses incidental to the matters specified in this Act and for any other purpose for which by or under this Act, powers are conferred or duties are imposed upon the State Council and the Regional Councils established under this Act.

No payment shall be made by a bank out of the State Council’s fund except upon a cheque or letter of credit signed by an officer serving under the State Council or a Regional Council duly authorised by the State Council in this behalf.

The State Council shall pay, from time to time, to each Regional Council such sums as the State Council may determine, for enabling the Regional Council to discharge the duties and functions imposed on them by the State Council for conduct of examinations assigned to it within its jurisdiction.

1. (1) The State Council shall prepare, before such date and in such manner as may be prescribed, the budget estimates of the income and expenditure of that Council incorporating therein the income and expenditure of Regional Councils for the next financial year.
2. (2) The State Council shall, on or after the date referred to in sub-section (1) consider the budget estimates prepared by it and submit them as approved by it to the State Government for its information. The State Government may pass such orders with reference to the budget estimates as it thinks fit and communicate the same to the State Council. The State Council shall give effect to such orders.

1. (1) The State Council shall keep its accounts in such form and in such manner as prescribed.
2. (2) The Account of the State Council and a Regional Council shall be audited by Auditor appointed by the State Council with the previous approval of the Government.
3. (3) The Government may, if it thinks necessary, appoint a Special Auditor to audit the accounts of the Council.
4. (4) The Auditor or the Special Auditor, as the case may be, shall submit his report to the State Council and shall forward a copy there of to the Government.
5. (5) The cost of the audit under sub-section (2) or (3) if any, shall borne by the State Council.

1. (1) The Government shall have the right to cause an inspection to be made, by such person or persons as it may direct, of the State Council or a Regional Council of the buildings, hostels, laboratories, libraries and equipments of any institution recognised by or affiliated to the State Council; and to cause enquiry to be made in the like manner in respect of any matter connected with any Council. The Government shall, in every case, give due notice to the Council concerned, of its intention to cause an inspection or inquiry to be made, and the Council shall be entitled to appoint the representative, who shall have the right to be present and be heard at such inspection or inquiry.
2. (2) The Government shall communicate to the Council its view with reference to the results of the inspection or inquiry and may, after ascertaining the opinion of the Council thereon, advise it on the action to be taken and fix a time limit for taking such action.
3. (3) The Council shall report to the Government such action, if any, as it has taken or proposes to take upon the result of the inspection or inquiry. Such reports shall be submitted, with the opinion of the Council thereon, within such time as the Government may direct.
4. (4) Where the Council does not within the time fixed, take action to the satisfaction of the Government, it may, after considering any explanation furnished or representation made by the Council, issue such directions as it may think fit and the Council shall comply with such directions.

1. (1) The State Council and each Regional Council shall furnish to the Government such reports, returns, and statements as may be required by the Government and such further information relating to any matter connected with its work as the Government may call for.
2. (2) The Government may, after considering any such report, return or statements or information furnished, give such directions consistent with this Act as may be necessary and the State Council or the Regional Council, as the case may be, shall comply with such directions.