Section 10. Finance, accounts and audit

10. Finance, accounts and audit.— (1) For the purpose of enabling the Council to discharge its functions under this Act, the Central Government may, after due appropriation made by Parliament by law in this behalf, pay to the Council such sums of money as that Government considers necessary by way of grants, loans or otherwise. 1. Ins. by Act 40 of 1984, s. 4 (w.e.f. 2-7-1984). (2) For the purpose of discharging its functions under this Act, the Council may receive grants or donations from bodies and institutions approved by the Central Government in this behalf. (3) The Council shall have its own fund to which shall be credited the sums of money referred to in sub-sections (1) and (2) and the moneys in the fund shall be applied for — (a) meeting the pay and allowances of the officers and other employees of the Council and other administrative expenses of the Council; (b) carrying out the functions of the Council under this Act. (4) The Council shall prepare, before the commencement of each financial year, a statement of programme of its activities during that year as well as a financial estimate in respect thereof. (5) A statement prepared under sub-section (4) shall, not later than three months before the commencement of each financial year, be submitted for approval to the Central Government. (6) The Council shall maintain such accounts and prepare the balance-sheet in such form as may, in consultation with the Comptroller and Auditor-General of India, be prescribed. (7) The accounts of the Council shall be audited in such manner and at such times as may, in consultation with the Comptroller and Auditor-General of India, be prescribed. 1[10A. Power to enter and inspect.— The Director of Inspection and Quality Control or any officer of the Central Government authorised by him in writing in this behalf (hereinafter referred to as the — "authorised officer") may enter at any reasonable time, any premises which (a) any commodity which has been changed after inspection by any agency referred to in sub-section (1) of section 7; or (b) any books of account or other documents or things which, in his opinion, will be useful for, or relevant to, any proceeding under this Act, are suspected to have been kept or concealed, and inspect such commodity, books of account, other documents or things and may take such notes or extracts from such books of account or, other documents as he may think fit.