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!} ~ ~ I - i;i ·!I~ it 970 ( I) Naya Raipur. the 13th November 20 17 NOTIFICATION No. F 1-22/201 7/32 - In exercise of the powers conferred by Section 84 read with Section 75 and sub clause (1v) of clause (g) of Seclion 2 of the Real Estate (Regulation and Development) Act. 2016 ( 16 of 20 I 6), the State Government, hereby. makes the following rules relating to the Chhattisgarh Real Estate Regulatory Fund. namely .- RULES Short title and Commencemen t.- ( 1) These rules may be called the Chhattisgarh Real Estate Regulatol) Fund Rules, 2017.
(2) It shall come into force from the date of its publication in the Oflicial Gazette
2. Definitions.- In these rules. unless the comext otherwise requires,-
(a) "Act" means the Real Estate (Regulation and Development) Act, 2016 ( 16 of 2016):
(b) "Authority" means the Chhattisgarh Real Estate Regulatory Authority;
(c) "Chairperson" means the Chairperson of the Chhanisgarh Real Estate Regulatol) Authority.
(d) "Fund" means the ChJ1auisgarh Real Estate Regulatory Fund;
(e) "Rule" means the Chhamsgarh Real Estate Regulatory Fund Rules. 2017.
J. Esrn blishment of the Fund - ( I) The following shall be deposited in the fund. namely:-
(a) grants and loans received from the Central Government and the State Government:
(b) fees received under the Act:
(c) interest received on the amount referred to in claust.: (a) and (b);
(d) any othe1 amount received by the order of the State Gowrnment.
(2) /\uthorit~ shall open a bank account in an, Scheduled Bank for the operation of the fund . The fund shal l be administered by a Commiucc of such members of the Authority. as may be detem1ined by the Chairperson.
(3) The Committee shall utilize the Fund to carry out the objects for which the fund has bt.:en con:.tituted.
4 Utilization or the f und .- l·und shall be utilized.-
(a) for payment of salarie. and allo,\ances to the Chairperson, members, offtcers, employees of the Authority:
(b) for pa}ment of salanes to Lhc otlicers and employees of the Appellate Tribunal:
(c) for payment of administrative expenses of the Appellate Tribuna l:
(d) for payment of any other e:..penses accrue in discharging the functions of the Authority for the purpose of the /\ct.
5 Preparing the Budget.- ( I) The /\uthorit) shall prepare an annual budget to meet the expenses to be incurred in the financial year.
(2) The Authority shall maintain a proper account of the budget and shall maintain record thereof.
(3) The Authority shall maintain an annual s1atcmen1 of accounts in such form as may be pre$cribed b) rhe rnte Government in consultation with the Auditor General of India.
6 Budget, Accounts and Audit.• (I) f hc Authority shall prepare a budget, maintain proper accounts and oth.:r relevant records and prepare an annual statement of accounts 111 such prescribed form as may be prescribed b) the Stnte (jovcrnment in consultation \\-ith the Auditor Gt>neral of India.
970 (2)
(2)
(3) l?<ffitM~ <~ . ~ 13 -;rc(J.~ 20 I 7 The accounts of The Authority shall be audited by the Comptrol ler and Auditor General of India or such Au1horit)' as may be specified by him.
The Authori1y shall prepare an annual report in which a description of the act ivities of the concerned year shall be included. The Annual report along with the audited annual accoum~ of the Authori1y shall be submitted to the State Government for laying it before 1he State Legislative Assembly