Fund of the Board.

(1) There shall be a Fund called the Board Fund.

(2) The following shall form part of, or be paid into, the Board Fund, namely:-

(i) all grants, subventions, donations and gifts made by the Central Government, State Government, any local authority, any body, whether incorporated or not or any person;

(ii) the amount borrowed by the Board; and

(iii) all other sums received by or on behalf of the Board from any source whatsoever.

(3) Except as otherwise directed by the State Government, all moneys credited to the Fund shall be invested in any Scheduled Bank.