Ex-servicemen Corporation Fund

(1) The Corporation shall maintain a Fund called the Ex-servicemen Corporation Fund (hereinafter referred to as the Fund) to which shall be credited- (a) all moneys received by it from the Government or from any person or association of persons interested in or dealing with the welfare of ex-servicemen; (b) such sums of money as may, from time to time, be realized by way of repayment of loans made from the fund or from 1. Clause (iv-a) inserted vide H.P. Act No. 5 of 2014. 12 THE HIMACHAL PRADESH EX-SERVICEMEN CORPORATION ACT, 1979 interest on loans; (c) all moneys borrowed under section 16; and (d) all moneys received by it from any other source. (2) The moneys in the Fund shall be applied by the Corporation for carrying out its functions under this Act. (3) All moneys in the fund shall be deposited in the bank for the time being included in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934), or in a Government Treasury, as may be decided by the Corporation : Provided that the Corporation may invest or deposit its surplus fund in the Government securities or in such other manner as it may decide. CHAPTER-V LOANS

1. (a) all moneys received by it from the Government or from any person or association of persons interested in or dealing with the welfare of ex-servicemen;
2. (b) such sums of money as may, from time to time, be realized by way of repayment of loans made from the fund or from

1. Clause (iv-a) inserted vide H.P. Act No. 5 of 2014.

12 THE HIMACHAL PRADESH EX-SERVICEMEN CORPORATION ACT, 1979

interest on loans;

1. (c) all moneys borrowed under section 16; and
2. (d) all moneys received by it from any other source.

1. (2) The moneys in the Fund shall be applied by the Corporation for carrying out its functions under this Act.
2. (3) All moneys in the fund shall be deposited in the bank for the time being included in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934), or in a Government Treasury, as may be decided by the Corporation : Provided that the Corporation may invest or deposit its surplus fund in the Government securities or in such other manner as it may decide. CHAPTER-V LOANS