The Central Consumer Protection Authority (Form of annual statement of accounts and records) Rules, 2021.

LegalitySimplified

The Central Consumer Protection Authority on 6th December 2021 has published the Central Consumer Protection Authority (Form of annual statement of accounts and records) Rules, 2021 which notifies the form of financial statement to be prepared by the central authority.

As per rule 3, the central authority, at the expiration of a period of twelve months ending with the 31st March of every year, shall prepare a balance sheet, an income and expenditure account and receipt and payment account in Form – I, Form – II and Form – III, respectively and shall preserve accounts and other relevant records for a minimum period of five years following the financial year to which they relate.

The account and other relevant records shall be signed by the Chief Commissioner, two Commissioners and the Chief Account Officer or officer- in-charge of Finance and Accounts of the Central Authority.

The Annual statement of Accounts duly approved by the competent authority shall be forwarded to the concerned audit office by 30th June every year and after due approval, the annual report and the audited accounts shall be forwarded to the nodal Ministry for it to be laid on the table of the Parliament by 31st December.

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