Fund of Authority

17.

1. (1) The Authority shall have a fund to be called the Authority Fund which shall be operated by such officer as may be authorized by the Authority.
2. (2) The Authority may accept grants, subventions, contributions, donations and gifts from the Central Government, the State Government, a local authority, any international organization or any individual or body, whether incorporated or not, for all or any of the purposes of this Act.
3. (3) The State Government shall, every year, make a grant to the Authority of a sum equivalent to the administrative expenses of the Authority till the Authority is able to meet its administrative expenses out of its own resources.
4. (4) All moneys received by or on behalf of the Authority by virtue of this Act and all interest, profits, and other moneys accruing to or borrowed by the Authority, shall be credited to the Fund. (5)