Nigam Fund

23. (1) The Nigam shall have its own fund, to which shall be credited all moneys received by the Nigam and all moneys received by the Nigam shall be deposited in such bank or invested in such manner as the Board may decide. (2) The fund shall be applied for meeting expenses incurred by the Nigam in the discharge of its functions and for such other purposes as may be prescribed. (1) The Nigam shall have and maintain its own fund, and all receipts of the Nigam shall be carried thereto and all payments by the Nigam shall be made therefrom. (2) The funds of the Nigam shall be applied by it for meeting all administrative expenses of the Nigam and for carrying out the purposes of this Act. (3) The Nigam may deposit with any bank such sums as may be needed by it for its operation and the surplus may be invested in such manner as may be approved by the State Government.