16. Grants and loans by the Central Government.—The Central Government may, after due
appropriation made by Parliament by law in this behalf, pay to the Board by way of grants or loans such
sums of money as the Central Government may think fit for being utilised for the purposes of this Act.
17. Constitution of the Tobacco Fund.—(1) There shall be formed a Fund to be called the Tobacco
Fund and there shall be credited thereto—
(a) the fees levied and collected under this Act or the rules made thereunder;
(b) any sums of money paid or any loans granted by the Central Government for the purposes of
this Act;
(c) any grants or loans that may be made by any person for the purposes of this Act;
(d) the sums, if any, realised by the Board in carrying out the measures referred to in section 8.
(2) The Fund shall be applied—
(a) for meeting the cost of the measures referred to in section 8;
(b) for meeting the salaries, allowances and other remuneration of the officers and other
employees of the Board;
(c) for meeting the other administrative expenses of the Board;
(d) for repayment of any loans.
18. Borrowing powers of the Board.—Subject to such rules as may be made in this behalf, the
Board shall have the power to borrow on the security of the Tobacco Fund or any other asset for carrying
out the purposes of this Act.
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[18A. Writing off of losses.—Subject to such conditions as may be specified by the Central
Government, where the Board is of opinion that any amount due to, or any loss, whether of money or of
property, incurred by, the Board is irrecoverable, the Board may, with the previous approval of the
Central Government, sanction the writing off finally of the said amount or loss:
Provided that no such approval of the Central Government shall be necessary where such
irrecoverable amount or loss does not exceed in any individual case and in the aggregate in any year such
amounts as may be prescribed.]
1. Ins. by Act 36 of 1978, s. 5 (w.e.f. 30-8-1978).
2. Ins. by Act 57 of 1985, s. 8 (w.e.f. 1-12-1985).
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19. Accounts and audit.—(1) The Board shall maintain proper accounts and other relevant records
and prepare an annual statement of accounts, including the 1
[income and expenditure account] and the
balance-sheet 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.
(3) The Comptroller and Auditor-General of India and any 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 has in connection with the audit of
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.