Section 23 in The Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Act, 1996

Title: Grants and loans by the Central Government

Description: The Central Government may, after due appropriation made by Parliament by law in this behalf, make to a Board grants and loans of such sums of money as the Government may consider necessary.

Title: Building and Other Construction Workers’ Welfare Fund and its application

Description: (1) There shall be constituted by a Board a fund to be called the Building and Other Construction Workers' Welfare Fund and there shall be credited thereto— (a) any grants and loans made to the Board by the Central Government under section 23; (b) all contributions made by the beneficiaries; (c) all sums received by the Board from such other sources as may be decided by the Central Government. (2) The Fund shall be applied for meeting— (a) expenses of the Board in the discharge of its functions under section 22; and (b) salaries, allowances and other remuneration of the members, officers and other employees of the Board; (c) expenses on objects and for purposes authorised by this Act. (3) No Board shall, in any financial year, incur expenses towards salaries, allowances and other remuneration to its members, officers and other employees and for meeting the other administrative expenses exceeding five per cent. of its total expenses during that financial year

Title: Budget

Description: The Board shall prepare, in such form and at such time each financial year, as may be prescribed, its budget for the next financial year, showing the estimated receipts and expenditure of the Board and forward the same to the State Government and the Central Government.

Title: Annual report

Description: The Board shall prepare, in such form and at such time each financial year as may be prescribed, its annual report, giving a full account of its activities during the previous financial year, and submit a copy thereof to the State Government and the Central Government.

Title: Accounts and audit

Description: (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 in consultation with the Comptroller and Auditor-General of India. (2) The Comptroller and Auditor-General of India or any other person appointed by him in connection with the auditing of the accounts of the Board under this Act shall have the same rights and privileges and the authority in connection with such audit as the Comptroller and Auditor-General of India has in connection with the auditing of the Government accounts and, in particular shall have the right to demand the production of books, accounts, connected vouchers and other documents and papers and to inspect any of the offices of the Board under this Act. (3) The accounts of the Board shall be audited by the Comptroller and Auditor-General of India annually and any expenditure incurred in connection with such audit shall be payable by the Board to the Comptroller and Auditor-General of India. (4) The Board shall furnish to the State Government before such date as may be prescribed its audited copy of accounts together with the auditor's report. (5) The State Government shall cause the annual report and auditor's report to be laid, as soon as may be after they are received, before the State Legislature.

CHAPTER 5 BUILDING AND OTHER CONSTRUCTION WORKERS’ WELFARE BOARDS