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ACT XIV OF 2010 ACT XIV OF 2010 ALTERNATIVE ENERGY DEVELOPMENT BOARD ACT, 2010 An Act to provide for establishment of Alternative Energy Development Board [Gazette of Pakistan, Extraordinary, Part I, 25th May, 2010] No.F.9(18)/2010-Legis., dated 25-5-2010. --The following Act of Majlis-e-Shoora (Parliament) received the assent of the President on 21st May, 2010, is hereby published for general information:--- Whereas, it is expedient to provide for establishment of Alternative Energy Development Board (AEDB) as an autonomous body for the purpose of implementation of various policies, programmes and projects in the field of Alternative or Renewable Energy Technologies; And whereas the objective of the Alternative Energy Development Board is to assist and facilitate development and generation of Alternative or Renewable Energy in order to achieve sustainable economic growth with transfer of technology for development of an indigenous technological base through a diversified energy generation; It is hereby enacted as follows: CHAPTER - III FUND, ACCOUNTS AND AUDIT 14. Accounts and audit.---(l) The Board, Institute and Organizations, shall prepare their own budget in respect of each financial year, in accordance with the prescribed procedure and shall maintain complete and accurate books of accounts of their actual expenses and receipts including that of the Alternative Energy Fund. (2) The accounts of the Board, Institute and Organizations shall be audited by a reputable firm of Chartered Accountants, who are within the meaning of the Chartered Accountants Ordinance, 1961 (X of 1961) appointed by the Board in consultation with the Auditor-General of Pakistan, from a panel of Chartered Accountants proposed by the Board on such terms and conditions as the Board may determine. (3) The Auditor appointed under subsection (2) shall be provided access to the books, accounts and other documents as may be considered necessary by them for audit of the accounts. (4) The Auditor-General may conduct each year external audit of the Board as per Auditor General's (Functions, Powers and Terms and Conditions of Service) Ordinance, 2001 (XXIII of 2001).