Chapter III FUND, BUDGET, ACCOUNTS, AUDIT AND RETURNS

The Government shall, after due appropriation made by the State Legislature by law in this behalf, pay to the Commission in each financial year by way of grants from the Consolidated Fund of the State, such sums of money as the Government may deem fit for being utilised for the purposes of this Act.

1. (1) The Commission shall maintain a Fund to which shall be credited-
   • (a) all moneys provided by the State and the Central Governments ;
   • (b) all fees, royalties and other charges received by the Commission;
   • (c) all moneys received by the Commission by way of grants, gifts, endowments, donations, benefactions, bequests or transfers; and
   • (d) all moneys received by the Commission in any other manner or from any other source.
2. (2) All moneys credited to the Fund shall be deposited in such bank or banks and invested in such manner as the Commission may decide.
3. (3) The Commission shall be encouraged to create a corpus as a long term measure.
4. (4) The Fund shall be applied by the Commission towards meeting the expenses of the Commission for the purposes of this Act. Explanation.-For the purposes of this section, the expression "bank" means,-
   • (i) the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955) ;
   • (ii) a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959) ;
   • (iii) a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) or under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980).

The Commission may receive gifts, grants, donations, benefactions, endowments, bequests from the Central Government, the State Government and other State Governments, companies, industries, institutions, individual or from any other sources. Such receipts, particularly those from the bilateral or multilateral agencies shall, however, be subject to the overall policy guidelines, if any, of the Central Government and the State Government.

1. (1) The Commission shall prepare, in such form and at such time each year, as may be prescribed, a budget in respect of the financial year next ensuing, showing the estimated receipts and expenditure, and copies thereof shall be forwarded to the Government.
2. (2) The expenditure from the Fund of the Commission shall be incurred only after the budget of the Commission has been approved by the Government or as a special case, with the prior approval of the State Government: Provided that, the Commission shall be competent in incur any expenditure from the moneys received under section 16, to further the aims and objectives of the Commission outside the budget approved by the Government or without referring the matter for approval of the Government, if there is no financial liability, direct or indirect, immediate or in future, on the Government. Such receipts of money and expenditure shall, however, be shown in the budget, accounts as well as annual report of the Commission.

1. (1) The Commission shall cause to be maintained such books of accounts and other books in relation to its accounts, in such form and in such manner, as may be prescribed.
2. (2) The Commission shall, as soon as may be, after closing its annual accounts, prepare a statement of accounts including the balance-sheet in such form as may be prescribed and forward the same to the Government.
3. (3) The accounts of the Commission shall be audited by the Accountant General of the State of Maharashtra at such time and in such manner as may be specified by him and any expenditure incurred in connection with such audit shall be payable by the Commission to the Accountant General.
4. (4) The Accountant General and any person appointed by him in connection with the audit of the accounts of the Commission under this Act shall have the same rights and privileges and the authority in connection with such audit as the Accountant General generally has in connection with the audit of any 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 Commission.
5. (5) The annual accounts of the Commission together with the audit report thereon shall be forwarded to the Government and the Government shall cause the same to be laid, as soon as may be, after the report is received, before both the Houses of the State Legislature and shall also forward a copy of the audit report to the Commission for taking suitable action on the matter arising out of the audit report or audit objections, if any.

The Commission shall prepare once every year, in such form and at such time each year, as may be prescribed, an annual report giving accurate, true and full account of its activities during the previous financial year, and copies thereof shall be forwarded to the Government and the Government shall cause the same to be laid, as soon as may be, after its receipt, before both Houses of the State Legislature.

The Commission shall furnish to the Government such returns or other information, with respect to its property, accounts or activities as the State Government may, from time to time, require.

In the discharge of its functions under this Act, the Commission shall be guided by such directions on questions of policy and procedure as may be given to it by the Government, from time to time.

No act done or proceedings taken by the Commission, or the Overseeing Council shall be questioned or be invalid on the ground merely of the existence of any vacancy or defect in the constitution of the Commission or the Overseeing Council or any defect in the nomination of a person as the Chairman or a member.

All orders and decisions of the Commission shall be authenticated under the signature of the Chairman or the Member-Secretary or any other member authorised in writing by Commission in this behalf and all other instruments of the Commission shall be authenticated by the signature of the Chairman or the Member-Secretary or any other officer of the Commission as may be authorised in writing by the Commission in this behalf.

The Commission shall have power to assign work to Government supported organisations and to monitor and review the progress of the work assigned to any organisation irrespective of whether or not the organisation to which the work is so assigned is receiving any financial or other support from the Commission.

1. (1) The Chairman, members, officers and employees of the Commission shall be deemed to be public servants within the meaning of section 21 of the Indian Penal Code (45 of 1860).
2. (2) No suit, prosecution or other legal proceedings shall lie against any member of the Commission or any officer or other employee of the Commission or any person acting under the direction either of the State Government or of the Commission, in respect of anything which is in good faith done or intended to be done in pursuance of this Act or any rules or regulations or orders made thereunder.

1. (1) The State Government may, by notification in the Official Gazette, and subject to the condition of previous publication, make rules to carry out the purposes of this Act.
2. (2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:-
   • (a) the terms and conditions of service of the non-official members of the Commission other than Chairman and Member-Secretary ; .
   • (b) the form and manner and the time for preparation of the budget by the Commission;
   • (c) the form and manner of maintenance of the accounts of the Commission ;
   • (d) any other matter which is required to be or may be prescribed, for carrying out the purposes of this Act.
3. (3) Every rule made under this Act shall be laid, as soon as may be after it is made, before each House of the State Legislature while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before expiry of the session in which it is so laid or the session immediately following, both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made and notify such decision in the Official Gazette, the rule shall, from the date of such notification, have effect only in such modified form or be of no effect, as the case may be ; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done or omitted to be done under that rule.

The Commission may, with the previous approval of the Government and by notification in the Official Gazette, make regulations consistent with the provisions of this Act and the rules made thereunder for,-

1. (a) regulating arrangements to provide financial support to institutions providing facilities to the Commission;
2. (b) identification of institutions for project funding and financial support under section 10 ;
3. (c) regulating the meetings of the Commission and the procedure for conducting business thereat;
4. (d) any other matter which is to be or may be regulated by regulations for carrying out the purposes of this Act.

1. (1) If any difficulty arises in giving effect to the provisions of this Act, the State Government may, by order published in the Official Gazette, make such provisions, not inconsistent with the provisions of this Act, as appear to it to be necessary or expedient for removing the difficulty : Provided that, no such order shall be made after the expiry of a period of two years from the date of commencement of this Act.
2. (2) Every order made under sub-section (1) shall be laid, as soon as may be, after it is made, before each House of the State Legislature.

1. (1) The Rajiv Gandhi Science and Technology Commission Ordinance, 2004 (Mah. Ord. XX of 2004), is hereby repealed.
2. (2) Notwithstanding such repeal, anything done or any action taken (including any notification issued or nomination, appointment or rule made) under the said Ordinance, shall be deemed to have been done, taken or issued, as the case may be, under the corresponding provisions of this Act.