Section 76

Section 76 of the Real Estate (Regulation And Development ) Act, 2016. All sums realised, by way of penalties, imposed by the Appellate Tribunal or the Authority, in the Union terriroties, shall be credited to the Consolidated Fund of India.

(1) All sums realised, by way of penalties, imposed by the Appellate Tribunal or the Authority, in the Union terriroties, shall be credited to the Consolidated Fund of India.

(2) All sums realised, by way of penalties, imposed by the Applellate Tribunal or the Authority, in a State, shall be credited to such account as the State Government may specify. Grants and loans by Central Government. Grants and loans by State Government. Constitution of Fund. Crediting sums realised by way of penalties to Consolidated Fund of India or State account. Factors to be taken into account by the adjudicating officer. Budget, accounts and audit. 177.

(1) The Authority shall prepare a budget, maintain proper accounts and other relevant records and prepare an annual statement of accounts in such form as may be prescribed by the appropriate Government in consultation with the Comptroller and Auditor- General of India.

(2) The accounts of the 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 Authority to the Comptroller and Auditor- General of India.

(3) The Comptroller and Auditor-General and any person appointed by him in connection with the audit of the accounts of the Authority under this Act 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 Government accounts and, in particular shall have the right to demand and production of books, accounts, connected vouchers and other documents and papers, and to inspect any of the offices of the Authority.

(4) The accounts of the Authority, as certified by the Comprtoller and Auditor-General of India or any other person appointed by him in this behalf, together with the audit report thereon shall be forwarded annually to the appropriate Government by the Authority and the appropriate Government shall cause the audit report to be laid, as soon as may be after it is received, before each House of Parliament or, as the case may be, before the State Legislature or the Union territory Legislature, where it consists of two Houses, or where such legislature consists of one House, before the House. Annual report. 718.

(1) The Authority shall prepare once in every year, in such form and at such time as may be prescribed by the appropriate Government,- (a) a description of all the activities of the Authority for the previous year;

(b) the annual accounts for the previous year; and (c) the programmes of work for the coming year.

(2) A copy of the report received under sub-section (1) shall be laid, as soon as may be after it is received, before each House of Parliament or, as the case may be, before the State Legislature or the Union Territory Legislature, where it consists of two Houses, or where such legislature consists of one House, before that House. CHAPTER X MISCELLANEOUS Bar of jurisdiction.

Section 76, The Real Estate (Regulation And Development ) Act, 2016 (Act 17 of 2016).