Application of Board Fund

(1) Subject to the provisions of this Act, the Board Fund shall be applicable,- (i) only to the payment of the charges and expenses incidental to the several matters specified in this Act; and (ii) to any other purposes for which by or under this Act powers are conferred or duties imposed upon the Board. (2) The annual net savings shall be placed at the disposal of the Government exclusively for the development of school education in Himachal Pradesh.