Section 62 of The Protection of Plant Varieties and Farmers Rights Act, 2001
- (1)The Authority shall prepare a budget, maintain proper accounts and other relevant records (including the accounts and other relevant records of the Gene Fund) 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 Authority shall be audited by the Comptroller and Auditor-General of India at such intervals as may be specified by him and any expenditure incurred in connection with such audit shall be payable by the Authority to the Comptroller and Auditor-General of India.
- (3)The Comptroller and Auditor-General of India and any other person appointed by him in connection with the audit of the accounts of the Authority shall have the same rights and privileges and authority in connection with such audit as the Comptroller and Auditor-General of India generally has in connection with the audit 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 Authority.
- (4)The accounts of the Authority as certified by the Comptroller and Auditor-General of India or any other person appointed by him in his 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.
Summary
- The Authority must prepare an annual budget and maintain proper financial accounts and records.
- This record-keeping duty explicitly includes managing the accounts and records of the National Gene Fund.
- The annual statement of accounts must follow the format prescribed by the Central Government in consultation with the Comptroller and Auditor-General of India.
- The Comptroller and Auditor-General of India must audit the accounts of the Authority at specified intervals.
- The Authority has to pay the Comptroller and Auditor-General of India for any expenses incurred during the audit.
- The certified accounts and the audit report must be forwarded annually to the Central Government to be presented before both Houses of Parliament.
Practical examples
FAQ
1. Who is responsible for auditing the financial accounts of the Authority under Section 62 of the Protection of Plant Varieties and Farmers Rights Act, 2001?
Under Section 62 of the Protection of Plant Varieties and Farmers Rights Act, 2001, the accounts of the Authority are audited by the Comptroller and Auditor-General of India.
2. Are the accounts of the National Gene Fund audited under Section 62 of the Protection of Plant Varieties and Farmers Rights Act, 2001?
Yes, Section 62 of the Protection of Plant Varieties and Farmers Rights Act, 2001 states that the Authority must maintain proper records of the Gene Fund, which are audited as part of the overall accounts.
3. Who pays for the audit expenses of the Authority under Section 62 of the Protection of Plant Varieties and Farmers Rights Act, 2001?
Under Section 62 of the Protection of Plant Varieties and Farmers Rights Act, 2001, any expenditure incurred in connection with the audit is payable by the Authority to the Comptroller and Auditor-General of India.
4. What must the Central Government do with the audit report under Section 62 of the Protection of Plant Varieties and Farmers Rights Act, 2001?
Under Section 62 of the Protection of Plant Varieties and Farmers Rights Act, 2001, the Central Government must cause the certified accounts and the audit report to be laid before each House of Parliament annually.
Test yourself
Q1.Under Section 62 of the Protection of Plant Varieties and Farmers Rights Act, 2001, whose accounts and records must the Authority explicitly maintain alongside its general records?
Q2.Under Section 62 of the Protection of Plant Varieties and Farmers Rights Act, 2001, who must the Central Government consult to determine the format of the annual statement of accounts?
Q3.Under Section 62 of the Protection of Plant Varieties and Farmers Rights Act, 2001, what are the rights of the Comptroller and Auditor-General during an audit?
Q4.Under Section 62 of the Protection of Plant Varieties and Farmers Rights Act, 2001, who ultimately receives the certified accounts and audit report to present them to Parliament?