- The Board shall maintain separate accounts for the Rubber Development Fund.(1)Rubber development Fund - In respect of Rubber Development Fund for which budget estimates are prepared, the Board shall maintain accounts of receipts and expenditure relating to each financial year.(2)The audited statement of receipts and expenditure for each period together with the auditor's reports thereon shall be Submitted to the Central Government.(3)After the close of each year the statement shall be placed before the Board.(4)Omitted(5)[***] [Omitted 'The grants received from the Central Government under Sub-section (7) of Section 12 shall be deemed as receipts of the Board.' by Notification No. G.S.R. 1513(E), dated 13.12.2017 (w.e.f. 1.8.1955).](6)The opening balance, if any, shall also be stated as such separately.(7)Expenditure incurred in the year shall be shown under separate heads and Sub-heads.(8)The closing balance of the year shall be shown at the foot of the accounts on the expenditure side.
