section 20
Fund of the Authority.- (1) There shall be a fund called the Authority Fund.
The Kannada Development Authority Act, 1994General199428 sections5 chapters
Chapter IV Chapter IV
Statutory text
- (2) The following shall form part of, or be paid into the Authority Fund, namely:-
- (i) all grants, subversions, donations and gifts made by the Central Government, State Government, any local authority, any body whether in-corporated or not or any persons; and
- (ii) all other sums received by or on behalf of the Authority from any source whatsoever.
- (3) Except as otherwise directed by the State Government all money credited to the Fund shall be invested in any Scheduled bank.
- (4) The administrative expenses to the Authority including the salaries, allowances and pensions payable to the Secretary and other officers and employees of the Authority shall be defrayed out of the Fund of the Authority.
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