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Section 15

The Securities and Exchange Board of India Ordinance, 1992Ordinance · 1992

(1) The Board shall maintain proper accounts and other relevant records and prepare an annual statement of accounts in such form as may be prescribed!

by the Central Government in consultation with the Comptroller and Auditor General of India.

(2) The accounts of the Board shall be audited by the Comptroller and AuditoT-Oeneral of India at such intervals as may be specified by him and any expcnditiure incurred in connection with such audit shall be payable by the Board to the Comptroller and Auditor-General of India.

(3) The Comptroller and Auditor-General of India and any other person appointed by him hi connection with the audit of the accounts of the Board shall have tihe same rightis and privileges and authority in connection with such audit as the Comptroller and Auditor-General generally has in connection with the audit of the Government accounts and, in particular, shall have the right to demand tihe production of books, accounts, connected vouchers and other documents and papers and to inspect any of the offices of the Board.

(4) The accounts of the Board as certified by the Comptroller and Auditor- General of India or any other person appointed by him in this behalf together with the audit repOTt thereon shall be forwarded annually to the Central Government and that Government shall cause the -sjune to be laid before each House of Parliament.

Accounts and audit.

CHAPTER VII MISCELLANEOUS 1<S. (1) Without prejudice to the foregoing provisions of this Ordinance, the Board shall, in exercise of its powers or the performance of its functions under this Ordinance, be bound by such directions on ques* tions of policy as the Central Government may give in writing to it from time to time:

Provided that the Board shall, as far as practicable, be given an of> portunity to express its views before any direction is given under this sub-section.

(2) The decision of the Central Government whether a question is one of policy or not shall be final.

Power of Central Government to Issue directions.

8 THE GAZETTE OF INDIA EXTRAORDINARY [PAW i t -

Where this provision sits

ActThe Securities and Exchange Board of India Ordinance, 1992
Section15
StatusIn force as published by the source

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