Vesting and administration of the Fund.

Infrastructure200743 sections

Statutory text

(1) The Fund shall vest in and be administered by the Authority constituted under section 3.
(2) The Authority shall administer the Fund vested in it in such manner, as may be prescribed.
(3) All amounts forming part of the Fund shall be deposited in the State Bank of Travancore or any nationalised bank, as may be decided by the Authority and the account shall be operated by the Chairman of the Executive Committee and the Chief Executive Officer of the Authority jointly in such manner, as the Authority may decide.

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