Section 77 in Jammu and Kashmir Real Estates (Regulation and Development) Act, 2018
77. Budget, accounts and audit.
(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 Government in consultation with the Accountant General of the State.(2)The accounts of the Authority shall be audited by the Accountant General of the State 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 Accountant General of the State.(3)The Accountant General of the State 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 Accountant General of the State 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 Accountant General of the State or any other person appointed by him in this behalf, together with the audit report thereon shall be forwarded annually to the Government by the Authority and the Government shall cause the audit report to be laid, as soon as may be after it is received, before each House of the State Legislature.
