ROAD TRANSPORT CORPORATIONSCentral

Section 15 of The Road Transport Corporations Act, 1950

Managing Director, Chief Accounts Officer and Financial Adviser.

1[15. Managing Director, Chief Accounts Officer and Financial Adviser.--(1) The Managing Director shall be the executive head of the Corporation and all other officers and employees of the Corporation shall be subordinate to him.

(2)The Managing Director shall obtain the views of the Chief Accounts Officer and the Financial Adviser or, as the case may be, the Chief Accounts Officer-cum-Financial Adviser, on every proposal involving revenues, or expenditure from the fund, of the Corporation and shall cause such views to be placed before the Board prior to the consideration of such proposal by the Board.]

Summary

The Managing Director serves as the executive head of the whole Corporation.
All other employees and officers must follow the directions of the Managing Director.
The Managing Director must consult the financial officers on any plan that involves money.
This consultation is required for any proposal involving revenue or spending from the Corporation's fund.
The views of the financial officers must be presented to the Board of Directors.
These financial opinions must reach the Board before they consider the proposal in a meeting.

Practical examples

1The Managing Director proposed a five million rupee project to build a new bus depot. Before showing it to the Board, she sat down with the Chief Accounts Officer to get his formal fiscal views.

2When the Board met to discuss buying new uniforms, they first reviewed the written report from the Financial Adviser. This was provided to them by the Managing Director before the discussion started.

FAQ

1. Who is the executive head under Section 15 of The Road Transport Corporations Act, 1950?

Under Section 15 of The Road Transport Corporations Act, 1950, the Managing Director is the executive head of the Corporation.

2. What must the Managing Director do for proposals involving money in Section 15 of The Road Transport Corporations Act, 1950?

In Section 15 of The Road Transport Corporations Act, 1950, the Managing Director must obtain the views of the Chief Accounts Officer or Financial Adviser.

3. When are financial views presented to the Board under Section 15 of The Road Transport Corporations Act, 1950?

According to Section 15 of The Road Transport Corporations Act, 1950, these views must be placed before the Board prior to the Board's consideration of the proposal.

Test yourself

1.Under Section 15 of The Road Transport Corporations Act, 1950, what is the status of the Managing Director?

2.According to Section 15 of The Road Transport Corporations Act, 1950, who is subordinate to the Managing Director?

3.Under Section 15 of The Road Transport Corporations Act, 1950, on what type of proposal must the MD get financial views?

4.Under Section 15 of The Road Transport Corporations Act, 1950, when must the financial views be placed before the Board?

14PreviousSection 14 Officers and servants of the Corporation.16NextSection 16 General disqualification of all officers and servants.

←Section 14 Section 16→