HDMFT Rules 12

Section 12 · Powers and Functions of the Managing Committee

- The Managing Committee Shall,-

(1)

Exercise due diligence in carrying out its duties for protecting the interest and contribution of the Foundation.

(2)

Ensure timely collection of Contribution Fund from the concerned holders of Mineral concession in accordance with the provisions of the Act and Rules made there under.

(3)

Get the Master Plan or Vision Document for the activities of the Foundation prepared from the specialized agency.

(4)

Assist in the preparation of the Annual Plan and Annual Budget of the Foundation along with the proposed schemes and projects.

(5)

Supervise and ensure the execution of the Annual Plan and the approved Schemes and Projects.

(6)

Accord Sanction to the projects, release and disburse the Foundation fund for the purpose subject to delegation limits.

(7)

Operate the Foundation Fund through Accounts in the name of the Foundation in the Government Scheduled Nationalised Bank with prior approval of the Government.

(8)

Monitor the progress of the utilization of the Fund of the Foundation.

(9)

Place the audited accounts along with an Annual Report before the foundation for its approval within 90 days of close of financial year.

(10)

Do all other things which are necessarily for smooth functioning and management of the Foundation.

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