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Govt notifies the Food Corporations (Amendment) Rules, 2016

G.S.R. 1133(E).—In exercise of the powers conferred by section 44 of the Food Corporations Act, 1964 (37 of 1964), the Central Government hereby makes the following rules further to amend the Food Corporations Rules, 1965, namely :--

1. (1) These rules may be called the Food Corporations (Amendment) Rules, 2016.
(2) They shall come into force on the date of their publication in Official Gazette.

2. In the Food Corporations Rules, 1965, --

(i) in rules 2, for clause (ee), the following clause shall be substituted, namely :--
 “(ee) “Form” means a form appended to these rules”;

(ii) for rule 19, the following rule shall be substituted, namely:--
 “ 19. Annual statement of accounts and balance sheet.-
(1) The annual statement of accounts containing balance sheet in Form ‘A’, statement of profit and loss, account in Form ‘B’ and cash flow statement in Form ‘C’ shall be prepared by the Corporation.
(2) The annual statement of accounts of the Corporation shall be prepared by following the mandatory accounting standards of the Institute of Chartered Accountants of India established under section 3 of the Chartered Accountants of India Act, 1949 (38 of 1949) and any deviation from such accounting standards shall be disclosed as per the provisions of schedule III of the Companies Act, 2013 (18 of 2013)”;

(iii) for Form ‘A’, Form ‘B’ and Form ‘C’, the following shall be substituted, namely:-

(check the Forms in the original Gazette Notification)

Note : The Principal rules were published in the Gazette of India vide number G.S.R. 117, dated the 13th January, 1965 and last amended by vide number G.S.R. 305(E), dated the 6th April, 2011. 

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