section 18
Fund of the Board.- (1) There shall be a fund called the Board Fund.
The Malnad Area Development Board Act, 1991General199130 sections5 chapters
Chapter IV Chapter IV
Statutory text
- (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 persons;
- (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 money credited to the fund shall be invested in any Scheduled Bank.
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