Constitution of Fund.

General198036 sections

Statutory text

(1) There shall be formed a Fund for each society to be called the Fisheries Village Society's Fund of the fisheries village for which the society is constituted and there shall be credited thereto— section 17.
- (a) any grants or loans that may be made by the Government under section 19;
- (b) any grants or loans that may be made by any person or institution for the purposes of this Act; and
- (c) all sums realized by the societies in carrying out the measures referred to in
(2) The Fund shall be administered by the committee subject to such rules as may be made in this behalf and shall be applied— institution.
- (a) for meeting the salaries, allowances and other remunerations of the officers and other employees of the society;
- (b) for meeting the other administrative expenses of the society;
- (c) for meeting the cost of the measures referred to in section 17; and
- (d) for repayment of any loans from the Government or from any person or

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