The Indian Statistical Institute Act, 1959 was enacted on 24th December, 1959. Basically, act was made to declare an institution which in further will be known as “Indian Statistical Institute” which has its registered office in Calcutta and such institution has its own national importance and all such other matters in relation to it. For the purpose of this act, “Institute means, Indian statistical Institute which is registered under societies Registration Act, 1860”.
Institute will as per provision of University Grant Commission Act, 1956 and any such other provision in relation Institute can conduct examination and on basis of such examination institute would grant such degrees and diploma in statics, mathematics, quantitative economics, computer science or any such other subject in relation to statics. Central Government after proper consultation with Parliament may in each financial year give certain amount as loan or in other way to institute so that they can carry out there function like research, education, training, project, statistical work smoothly.
Institute has to maintain all books of account which can be audited by auditors who qualified as auditor as per companies act, and is appointed as auditor by central government with consultation Comptroller and auditor-general of India and so further direct auditors complete there duties as and thus while rendering his duties auditor can access to all books of accounts of institute and after accessing such books he prepares report of such access and send this to institute and other copy to Central government.
Institute is abide with memorandum rules and regulations constituted by societies registration act as institute is registered in this act, and thus institute except with the previous approval of central government alter, extend, or abridge any purpose for which is being used or has amalgamate itself either wholly or partly with an other institution or any such institution, alter or amend in either way memorandum or rules, sell or dispose of any property which is hold by institute but this has to be done wit special permission of central government or can dispose off.
Central Government may form committee for preparation and submission of such different work and if institute if not agree with committee then with proper reasons of not agreeing should be given to central government. Committee will have person who will review work done by institute, inspecting institutes building, its equipment etc.
Institute must have all related things which are necessary to carry out its duty for which it is formed. Central Government think that any steps that can be to alter or amend memorandum to make rule, give priority to work which is lend by central government for betterment of institute all this if is in public interest issue such steps and communicate so to that institute which is required to take steps for institute to go further and do work in public interest.
by Samata. H. Joshi.