Investment of Fund

(1) Where the Fund or any portion thereof can not be applied at an early date for the purposes of this Act, the Board shall invest the same in any of the securities specified in clause (a) to (d) and (f) of section 20 of the Indian Trusts Act, 1882. (2) The Board shall have such powers to hold and dispose of the investments as may be prescribed. (3) The Board shall have the power to create a reserve fund from the surplus income of the Board and invest the same with the prior approval of the State Government. The Board may from time to time with the previous sanction of the State Government and subject to the provisions of this Act and such conditions as may be specified in this behalf borrow any sum required for the purposes of the Fund. (1) (i) The Welfare Commissioner shall be appointed by the Board with the previous approval of the Administrator; (ii) The Welfare Commissioner shall be the principal executive officer of the Board; (iii) It shall be the duty of the Welfare Commissioner to ensure that the provisions of this Act and the rules made thereunder are duly carried out and for this purpose he shall have the power to issue such orders not inconsistent with the provisions of the Act and rules made thereunder as he deems fit including any order implementing the decisions taken by the Board under the Act or rules made thereunder. (2) (Deleted by Maharashtra Act 36 of 1961).