Section 58 outlines how the government should use the money in a specific fund. The funds are meant to be used for consumer welfare, and the exact way they are used will follow certain rules. Additionally, the government or a designated authority must keep detailed and separate records of the fund's transactions. They are also responsible for preparing a yearly financial statement, which should be done in consultation with the Comptroller and Auditor-General of India. This ensures transparency and proper management of the funds.
Note: It is an AI generated summary for reference purpose only.
58. Utilisation of Fund
(1) All sums credited to the Fund shall be utilised by the Government for the welfare of the consumers in such manner as may be prescribed .
(2) The Government or the authority specified by it shall maintain proper and separate account and other relevant records in relation to the Fund and prepare an annual statement of accounts in such form as may be prescribed in consultation with the Comptroller and Auditor-General of India.
