Land pooling schemes may also be prepared and formulated by recognized developer entities under this Act, subject to approval and monitoring by the Authority in such manner as may be prescribed.

Establishment of GSCDA Fund

1. (1) There shall be a fund for the Authority to be called the Guwahati Satellite City Development Authority Fund ("GSCDA Fund") to which shall be credited all moneys received by the Authority, including—
   • (a) A contribution made by the State Government towards a revolving fund to be established by the Authority, in such instalments, as the State Government may determine in accordance with the development schemes, development plans and master plans, as sanctioned for various notified Satellite City Development Areas and under appropriation duly made in this behalf, which contribution shall be utilised by the Authority for such planned development of Satellite City Development Areas as per the provisions of this Act;
   • (b) Such other moneys as may be paid to the Authority by the State Government;
   • (c) Such moneys as may be paid to the Authority by the Central Government or any other authority or agency;
   • (d) Sums placed at the disposal of the Authority by the State Government from out of the proceeds of any cess levied under this Chapter;
   • (e) The proceeds of any betterment charge levied under this Act;
   • (f) All fees, costs and charges received by the Authority under this Act or any other law for the time being in force;
   • (g) All money received by the Authority from the disposal of lands, buildings and other properties, movable and immovable, and other transactions;
   • (h) All moneys borrowed by the Authority;
     • (i) All moneys received by the Authority by way of rents and profits or in any other manner or from any other source.
2. (2) The Authority may keep in current or deposit account with the State Bank of India or with any Scheduled Bank as defined in the Reserve Bank of India Act, 1934, which holds a licence issued by the Reserve Bank of India under section 22 of the Banking Regulation Act, 1949, or with any other bank approved by the State Government in this behalf, such sum of money out of its Fund as may be prescribed, and any money in excess of the said sum shall be invested in such manner as may be approved by the State Government.
3. (3) Such accounts shall be operated upon by such officers of the Authority as per the direction of the Government.
4. (4) As part of the GSCDA Fund, the Authority shall establish in district Bank accounts a Loans Fund for the purposes of,
   • (a) receiving all money borrowed by it including all repayments of loan instalments together with payment of interest made by the borrower on loans;
   • (b) providing all money to be made available by the Authority as loans or advances to local authorities and other authorities or persons;
   • (c) repayment of loans raised by the Authority for the purpose of this Act, and
   • (d) expenditure on projects and schemes.
5. (5) All matters connected with the Loans Fund shall be governed by regulations made in this behalf.
6. (6) The Authority shall make provisions for a reserve fund and may provide for other specially denominated funds as it deems fit.
7. (7) The management of the funds referred to in sub-section (1), the sums to be transferred from time to time to the credit thereof and the application of money comprised therein, shall be determined by the Authority.