Section 22 in The School of Planning and Architecture Act, 2014
Title: Review of performance of School.
(1) Every School shall, within seven years from the establishment and incorporation of School under this Act and thereafter at the expiration of every fifth year, constitute, with the prior approval of the Central Government, a Committee to evaluate and review the performance of the School in achievement of its objects in the said period.
(2) The Committee constituted under sub-section (1) shall consist of members of acknowledged repute in academia or industry, drawn from such fields of knowledge as may have relevance to teaching, learning and research in such School.
(3) The Committee shall assess the performance of School and make recommendations to the Board in accordance with the provisions laid down in Statutes.
Title: Grants by Central Government.
For the purpose of enabling the Schools to discharge their functions efficiently under this Act, the Central Government may, after due appropriation made by Parliament by law in this behalf, pay to every School in each financial year such sums of money in such manner as it may think fit.
Title: Fund of School.
(1) Every School shall maintain a Fund to which shall be credited to—
(a) all moneys provided by the Central Government;
(b) all fees and other charges received by the School;
(c) all moneys received by the School by way of grants, gifts, donations, benefactions, bequests or transfers;
(d) all moneys received by the School from utilisation of intellectual property arising from research conducted or provision of advisory or consultancy services by it; and
(e) all moneys received by the School in any other manner or from any other source.
(2) All moneys credited to the Fund of every School shall be deposited in such banks or invested in such manner as the School may, with the approval of the Finance Committee and the governing body, decide.
(3) The fund of any School shall be applied towards meeting the expenses of the School, including expenses incurred in the exercise of its powers and discharge of its duties under this Act.
Title: Accounts and audit.
(1) Every School shall maintain proper accounts and other relevant records and prepare annual statement of accounts including the balance sheet in such form and accounting standard as may be specified by notification, by the Central Government in consultation with the Comptroller and Auditor-General of India.
(2) Where the statement of income and expenditure and the balance sheet of the School do not comply with the accounting standards, the School shall disclose in its statement of income and expenditure and balance sheet, the following, namely:—
(a) the deviation from the accounting standards;
(b) the reasons for such deviation; and
(c) the financial effect, if any, arising out of such deviation.
(3) The accounts of every School shall be audited by the Comptroller and Auditor-General of India and any expenditure incurred by audit team in connection with such audit shall be payable by the School to the Comptroller and Auditor-General of India.
(4) The Comptroller and Auditor-General of India and any person appointed by him in connection with the audit of the accounts of the School shall have the same rights, privileges and authority in connection with such audit as the Comptroller and Auditor-General of India has in connection with the audit of the Government accounts and, in particular shall have the rights to demand the production of books, accounts, connected vouchers and other documents and papers and to inspect the offices of the School.
(5) The accounts of every School as certified by the Comptroller and Auditor-General of India or any other person appointed by him in this behalf together with the audit report thereon shall be forwarded annually to the Central Government and that Government shall cause the same to be laid before each House of Parliament in accordance with such procedure as may be laid down by the Central Government.
Title: Pension and provident fund.
(1) Every School may constitute for the benefit of its employees such provident or pension fund or provide such insurance scheme as it may deem fit in such manner and subject to such conditions as may be prescribed by the Statutes.
(2) Where such provident fund or pension fund has been so constituted, the Central Government may declare that the provisions of the Provident Funds Act, 1925 (19 of 1925), shall apply to such fund, as if it were a Government provident fund.