Constitution of Fund

(1) The Government shall, by notification in the Gazette, frame a scheme to be called the Construction Workers' Welfare Fund Scheme for the establishment of a fund for the welfare of the construction workers in the State of Kerala and there shall be established, as soon as may be after the framing of the scheme, a fund in accordance with the provisions of this Act and the scheme. (2) There shall be credited to the Fund— (a) the contributions specified under section 5; (b) any voluntary donations; (c) any grants or loans made by the Government; (d) any amount raised by the Board for the purposes of this Act; (e) any other amount to which the Fund may become entitled. (3) The Fund shall be vested in and be administered by the Board. (4) The Fund may be utilised for all or any of the following purposes, namely:— (a) to pay pension to the members who have attained the age of sixty; (b) to provide financial assistance to the members for the treatment of self or family; (c) to provide financial assistance to the members for the marriage of self, children, sisters or as the case may be, and for education of children; (d) to provide housing loan or to provide financial assistance for the construction of house; (e) any other purposes as may be specified in the scheme. (5) The Board shall defray the costs and expenses of the Fund out of the amount of the Fund. (1) The Central Government shall constitute a Committee to be called the Central Building and Other Construction Workers' Advisory Committee to advise the Central Government on such matters arising out of the administration of this Act as may be referred to it. (2) The State Government shall constitute a Committee to be called the State Building and Other Construction Workers' Advisory Committee to advise the State Government on such matters arising out of the administration of this Act as may be referred to it. (1) There shall be constituted by each State Government a fund to be called the Building and Other Construction Workers Welfare Fund and there shall be credited thereto— (a) any grants and loans made to the Fund by the Central Government; (b) all contributions made by the beneficiaries; (c) all sums received from the employers under the Act; (d) all sums received by way of sale or disposal of materials and other property; (e) any interest or other income arising out of the investment of the amounts in the Fund; (f) such other amounts as may be prescribed by the State Government. (2) The Fund shall be applied for meeting— (a) expenses in connection with the administration of this Act; (b) such other expenses for the welfare of the construction workers as may be directed by the State Government.