(1)Every Municipal Corporation and every Class 'A' Municipal Council shall, as soon as may be, after the commencement of each year, constitute a Municipal Accounts Committee for one year.(2)In the event of failure of the Municipal Corporation or the Class 'A' Municipal Council to constitute a new Municipal Accounts Committee, before the expiry of the term of the previous Municipal Accounts Committee, the Government shall constitute the new Municipal Accounts Committee.(3)The Municipal Accounts Committee of a Municipal Corporation shall consist of seven members and the Municipal Accounts Committee of a Class 'A' Municipal Council shall consist of five members, to be elected by the members of the Municipal Corporation or the Class 'A' Municipal Council, as the case may be, from amongst themselves :Provided that a member shall not be eligible to serve as member of the Committee for more than two terms.(4)Notwithstanding the provision of sub-section (3), one expert having such qualifications as may be prescribed shall be nominated by the Municipal Corporation or the Class 'A' Municipal Council, as the case may be, with the approval of the Government for a period of one year to attend the meetings of the Municipal Accounts Committee.The expert shall be eligible for re-nomination, but the total period, for which he is nominated, shall not exceed three years.(5)The nominee referred to in sub-section (4), may take part in the deliberations of the meetings of Municipal Accounts Committee, but he shall not have any right to vote.(6)The members of the Municipal Accounts Committee shall elect in the prescribed manner from amongst themselves, one member to be its Chairman :Provided that a member shall not be eligible to be elected as Chairman for more that two terms.(7)The members of the Municipal Accounts Committee, shall hold office until a new Municipal Accounts Committee is constituted.(8)The Municipal Accounts Committee shall have such powers to exercise and such functions to perform, as may be prescribed.(9)The manner of transaction of business of the Municipal Accounts Committee shall be such, as may be prescribed.(10)In the case of a Class 'B' Municipal Council, the powers and functions prescribed in sub-section (8), shall be performed by the Standing Committee thereof.
