section 7
Management of the Fund
The Chhattisgarh State Growth and Stability Fund Act, 2025General202514 sections
Statutory text
- (1) The Fund shall be administered and managed by the Fund Manager. The appointment of Fund Manager and guidelines for investment shall be governed by the rules, notified under this act, to be approved by the Government.
- (2) The Fund Manager shall invest the accretions to the Fund in accordance with Section 9 of this Act, and shall maintain separate accounts and scrolls for transactions pertaining to the Fund, to ensure distinction from general transactions of the Government.
- (3) The Fund Manager shall arrange to collect interest on the securities and credit the same to the Fund on the respective due dates.
- (4) The commission and other incidental charges such as brokerage and transaction fees shall be borne by Chhattisgarh State Growth and Stability Fund itself and debited accordingly.
- (5) The Fund Manager shall submit periodic statements of balances, investments, and transactions to the Finance Department, as may be prescribed.
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