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CHAPTER VII: FINANCE, ACCONTS AND AUDIT OF NATIONAL BIODIVERSITY AUTHORITY

BananaIP Counsels > Biological Diversity Act > CHAPTER VII: FINANCE, ACCONTS AND AUDIT OF NATIONAL BIODIVERSITY AUTHORITY

CHAPTER VII: FINANCE, ACCONTS AND AUDIT OF NATIONAL BIODIVERSITY AUTHORITY

 

26. Grants or loans by the Central Government.—

 

The Central Government may, after due appropriation made by Parliament by law in this behalf, pay to the National Biodiversity Authority by
way of grants or loans such sums of money as the Central Government may think fit for being utilised for the purposes of this Act.

 

27. Constitution of National Biodiversity Fund—

 

(1) There shall be constituted a Fund to be called the National Biodiversity Fund and there shall be credited thereto—
(a) any grants and loans made to the National Biodiversity Authority under section 26;
(b) all charges and royalties received by the National Biodiversity Authority under this Act; and
(c) all sums received by the National Biodiversity Authority from such other sources as may be decided upon by the Central Government.
(2) The Fund shall be applied for—
(a) channeling benefits to the benefit claimers;
(b) conservation and promotion of biological resources and development of areas from where such biological resources or knowledge associated thereto has been accessed;
(c) socio-economic development of areas referred to in clause (b) in consultation with the local bodies concerned.

 

28. Annual report of National Biodiversity Authority.—

 

The National Biodiversity Authority shall prepare, in such form and at such time each financial year as may be prescribed, its annual report, giving a
full account of its activities during the previous financial year and furnish, to the Central Government, before such date as may be prescribed, its audited copy of accounts together with auditors report thereon.

 

29. Budget, accounts and audit.—

 

(1) The National Biodiversity Authority shall prepare a budget, maintain proper accounts and other relevant records (including the accounts and other relevant records of
the National Biodiversity Fund) and prepare an annual statement of account 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 National Biodiversity 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 National Biodiversity Authority to the Comptroller and Auditor-General of India.
(3) The Comptroller and Auditor-General of India and any other person appointed by him in connection with the audit of the accounts of the National Biodiversity Authority 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 the 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 National Biodiversity Authority.
(4) The accounts of the National Biodiversity Authority as certified by the Comptroller and Auditor-General of India or any other person appointed by him in this behalf together with the audit report there on shall be forwarded annually to the Central Government.

 

30. Annual report to be laid before parliament.—

 

The Central Government shall cause the annual report and auditor’s report to be laid, as soon as may be after they are received, before each House of Parliament.

 

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