Title : THE INLAND WATERWAYS AUTHORITY OF INDIA ACT, 1985
Year : 1985
(1) The Authority may, with the previous approval of the Central Government, levy fees and charges at such rates as may be laid down by regulations made in this behalf for services or benefits rendered in relation to the use of the national waterways for the purposes of shipping, navigation, infrastructural facilities, including facilities for passengers and facilities relating to the berthing of vessels, handling of cargoes and storage of cargoes.
(2) The fees and charges levied under sub-section (1) shall be collected in such manner as may be determined by regulations.
The Central Government may, after due appropriation made by Parliament by law in this behalf, make to the Authority grants and loans of such sums of money as that Government may consider necessary.
(1) There shall be constituted a Fund to be called the Inland Waterways Authority of India Fund and there shall be credited thereto-
(a) Any grants and loans made to the Authority by the Central Government under section 18;
(b) All fees and charges received by the Authority under this Act; and
(c) All sums received by the Authority from such other sources as may be decided upon by the Central Government.
(2) The Fund shall be applied for meeting:
(a) Salary, allowances and other remuneration of the members, officers and other employees of the Authority;
(b) Expenses of the Authority in the discharge of its functions under section 14; and
(c) Expenses on objects and for purposes authorised by this Act.
The Authority 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 Authority and forward the same to the Central Government.
The Authority may invest its funds (including any reserve fund) in the securities of the Central Government or in such other manner as may be prescribed.
The Authority 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 Central Government.
The accounts of the Authority shall be maintained and audited in such manner as may, in consultation with the Comptroller and Auditor-General of India, be prescribed and the Authority shall furnish, to the Central Government, before such date as may be prescribed, its audited copy of accounts together with the auditor’s report thereon.
The Central Government shall cause the annual report and auditor’s report to be laid, as soon as may be after they are received, before each House of Parliament.
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