Grants by the Central Government
99. The Central Government may, after due appropriation made by Parliament by law in this behalf, make to the Board, grants of such sums of money as the Central Government may think fit for being utilised for the purposes of this Act.
Securities and Exchange Board of India General Fund
100. (1) There shall be constituted a fund to be called the Securities and Exchange Board of India General Fund and there shall be credited thereto-
(b) all sums realised by way of penalties under this Act; and
(c) all sums received by the Board from such other sources as may be decided upon by the Central Government.
(b) the expenses of the Board in the discharge of its functions under Section 11 and
(c) the expenses on objects and for purposes authorised by this Act.
101. (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 by the Central Government, in consultation with the Comptroller and Auditor General of India.
(2) The accounts of the Board 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 Board 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 Board shall have the same rights and privileges and authority in connection with such audit as the Comptroller and Auditor General 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 Board.
(4) The accounts of the Board 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.