Fund of the Authority

(1) The Authority shall have its own Fund. The following shall be credited into the Fund of the Authority- (a) all such amount as may be allocated in the budget by the Government for the use of the Authority; (b) Managerial grant sanctioned by the government in the budget of Department of Fisheries; (c)prescribed percentage of Aquaculture registration/ license fee collected by the Department of Fisheries before the appointed date; (d)all such amount as may be received by the Authority in the exercise and discharge of its powers, and functions under this Act; (e)all such amount as may be received by the Authority by way of cess/fees and charges; (f)all such amount as may be received by the Authority by way of loans, donations, subsidies, gifts or grants from any source whatsoever. (2) The authority shall open a Green Channel PD Account towards operation of this fund. All the amounts / revenue receipts of the authority shall be deposited in this Green Channel Account; (3) Any expenditure incurred by the Authority in the exercise, and discharge of its powers, and functions under this Act shall be met from the fund established under sub-section (1).