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Chapter – 6 Fund and Audit

Chapter – 6 Fund and Audit
22. Fund : (1) The Fund shall have its’ own y fund and the followings moneys
shall be deposited on the fund;
(a) The grant to be obtained from the Government of
Nepal.
(b) The money to be received from foreign government,
national or international organization or institution or
person as donation or grant.
(c) The money earned from the movable or immovable
property of the Fund.
(d) Money to be received from any other source.
(2) The total amount to be received by the Fund pursuant to Sub-
section (1) shall be deposited on the account opened in Nepal Rastra Bank
(Central bank of Nepal) or in any commercial bank situated within Nepal.
(3) The total money to be expended by the Fund shall be charged on
the fund pursuant to Sub-section (1).
Provided that, the ceiling of the operation cost of the Fund shall be
Seven percent if the allocated amount for project and programme cost is up
to Five Hundred Million, if the said allocation is more than Five Hundred
Million and up to One Billion the said ceiling shall be either Thirty Five
Million or Five percent which is maximum and if the said allocation is
more than One Billion the said ceiling shall be either Fifty Million or Four
percent which a maximum.
(4) The account of the fund shall be operated in such a manner as
prescribed.
23. Accounts and auditing : (1) The account of the income and expenditure
of the fund shall be maintained in such a manner as prescribed.
(2) The internal audit of the account of the fund shall be conducted
by the Chartered Accountant registered pursuant to Nepal Chartered
Accountants Act, 2053.
(3) The annual audit of the accounts of the fund shall be carried
by the Auditor- General in a manner as determined by the law.
(4) The government of Nepal, if it wishes, may examine or cause
to examine the annual accounts of the fund at any time.

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