Energy Conser Act Seminar

CHAPTER VII FINANCE, ACCOUNTS AND AUDIT OF BUREAU OF ENERGY CONSERVATION

1. Grants and loans by Central Government

• Central Govt. will allocate funds to Bureau or to the state Govt. grants and loans after due apportion.

2. Establishment of Fund by Central Government

• Such grants and loans made to the bureau by the central Govt. will constitute a fund called central energy conservation fund (CECF). • All fees received by the bureau will go to CEC Fund. • Any other funds from other sources, as decided by central Govt. from time to time will go to CEC Fund.

CEC Fund may be used for the following • To meet the salary, allowance and other remuneration of Directors General, secretary officers and other employees of bureau. • It can be used to discharge all functions as prescribed under section 13 of bureau. • They may be used for paying fees and allowances to the members of governing council. • To meet any other expenses on the objects and for purposes authorised by this Act.

3. BORROWING POWERS • The bureau with the concern of Central Govt can borrow money from any source as it may deem fit for discharging all or any of its functions under this act. • The repayment of principle and payment of interest on the borrowed loans by the bureau may be guaranteed by central Govt.

4. BUDGET • The bureau shall prepare a projected budget of estimated receipts and expenditure at such time in each financial year and forward the same to central Govt. • The bureau shall prepare its annual report giving full A/C of its activities during the previous FY, and submitted it to central Govt. Such annual report has to be submitted to both the houses of parliament.

5. A/C’S AND AUDIT • The funds provided by the Central Govt can be used to meet the salary, allowances and other remuneration of Directors General, Secretary officers & other employees of bureau. • It can be used to discharge all functions as prescribed under section 13 of bureau. • They may be used for paying fees