The purpose of Section 70 is to ensure:

The primary purpose of Section 70 under the PERA Force Laws is to ensure transparency in the financial and operational activities of the Authority. By mandating that the Authority maintain comprehensive records of income, expenditure, assets, and liabilities, the law establishes a clear framework for accountability and governance.

Transparency is critical for building public trust in any regulatory body. Section 70 ensures that all financial transactions—including fines, penalties, rents, and other receipts—are properly documented and available for audit and inspection. This prevents misuse or misappropriation of funds and reinforces confidence in the Authority’s operations.

The section also supports good governance by providing a system where financial data is accessible, verifiable, and systematically recorded. Maintaining detailed records allows for auditing, compliance verification, and informed decision-making, all of which contribute to the Authority’s credibility and operational efficiency.

Furthermore, transparency under Section 70 aligns with broader principles of public accountability. It enables oversight by the government, auditors, and other stakeholders to ensure that the PERA Fund is used for its intended purposes—such as enforcement costs, rewards, refunds, and administrative expenditures. This accountability mechanism strengthens institutional integrity and ensures lawful use of public resources.

In essence, Section 70 creates a structured approach to financial management, emphasizing openness and accountability. It ensures that all financial and asset-related information is systematically recorded and available for verification, making transparency the cornerstone of the Authority’s operations under the PERA Force Laws.