Chapter 3 THE ROAD FUND

Establishment of Fund:

1. (1) As soon as maybe after constitution of the Board, there shall be established a Fund to be called 'The Mizoram Road Fund'.
2. (2) The Fund shall consist of the following:
   • (a) grants received by the Government from Government of India for the rehabilitation or repair and maintenance of roads.
   • (b) fees, fines and other amounts collected by the Government under the Mizoram Highways Act 2002.
   • (c) an amount to be appropriated from the Consolidated Fund of the State within one month from the commencement of this Act, and thereafter in accordance with the Appropriation Acts, shall be an amount equal to any cess on diesel and petrol, any road and road transport related taxes and fees collected under this Act at the end of the preceding year. The rates or amount of collections under this Act shall be decided by the Government from time to time.
   • (d) toll fees on bridges or busy roads as may be notified by the Government.
   • (e) any grant, aid, bequest, subsidy, donation, gift, subscription, loan or other sums lawfully received by the Board.

Accounts and Audit:

1. (1) All moneys mentioned in sub-section
2. (2) of section 6 above and forming part of the Fund shall be deposited in any Schedule Bank or State Co-operative Bank as may be decided by the Board and the said account shall jointly be operated by the Vice-Chairman and Member Secretary of the Board in such manner as may be specified by the Board.
3. (2) The Board shall maintain such books of account and other books in relation to its accounts and prepare annual statement of accounts which shall be audited by the Auditor appointed by the Board with prior approval of the Government.

Collecting Agent: The following Departments or Agencies shall be entrusted as collecting agents for collecting user fees, taxes/surcharges, tolls, fines etc. as may be decided by the Government or the Board from time to time as shown against their name: