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[17. Additional capital and grants to the Authority by the Central Government.—The Central
Government may, after due appropriation made by Parliament, by law in this behalf,—
(a) provide any capital that may be required by the Authority for the discharge of its functions
under this Act or for any purpose connected therewith on such terms and conditions as that
Government may determine;
(b) pay to the Authority, on such terms and conditions as the Central Government may determine,
by way of loans or grants such sums of money as that Government may consider necessary for the
efficient discharge by the Authority of its functions under this Act.]
18. Fund of the Authority.—(1) There shall be constituted a Fund to be called the National
Highways Authority of India Fund and there shall be credited thereto—
(a) any grant or aid received by the Authority;
1. Subs. by Act 16 of 1997, s. 7, for clause (h) (w.e.f. 24-1-1997).
2. Subs. by s. 8, ibid., for section 17 (w.e.f. 24-1-1997).
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(b) any loan taken by the Authority or any borrowings made by it;
(c) any other sums received by the Authority.
(2) The Fund shall be utilised for meeting—
(a) expenses of the Authority in the discharge of its functions having regard to the purposes for
which such grants, loans or borrowings are received and for matters connected therewith or incidental
thereto;
(b) salary, allowances, other remuneration and facilities provided to the members, officers and
other employees of the Authority;
(c) expenses on objects and for purposes authorised by this Act.
19. Budget.—The Authority shall prepare, in such form and at such time in each financial year as
may be prescribed, its budget for the next financial year, showing the estimated receipts and expenditure
of the Authority and forward the same to the Central Government.
20. Investment of funds.—The Authority may invest its funds (including any reserve fund) in the
securities of the Central Government or in such other manner as may be prescribed.
21. Borrowing powers of the Authority.—(1) The Authority may, with the consent of the Central
Government or in accordance with the terms of any general or special authority given to it by the Central
Government, borrow money from any source by the issue of bonds, debentures or such other instruments
as it may deem fit for discharging all or any of its functions under this Act.
(2) Subject to such limits as the Central Government may, from time to time, lay down, the Authority
may borrow temporarily by way of overdraft or otherwise, such amounts as it may require for discharging
its functions under this Act.
(3) The Central Government may guarantee in such manner as it thinks fit the repayment of the
principal and the payment of interest thereon with respect to the borrowings made by the Authority under
sub-section (1).
22. Annual report.—The Authority shall prepare, in such form and at such time in each financial
year as may be prescribed, its annual report, giving a full account of its activities during the previous
financial year, and submit a copy thereof to the Central Government.
23. Accounts and audit.—The accounts of the Authority shall be maintained and audited in such
manner as may, in consultation with the Comptroller and Auditor-General of India, be prescribed and the
Authority shall furnish, to the Central Government before such date as may be prescribed, its audited
copy of accounts together with the auditor’s report thereon.
24. Annual report and auditor’s report to be laid before Parliament.—The Central Government
shall cause the annual report and auditor’s report to be laid, as soon as may be, after they are received,
before each House of Parliament.