Loktak Lake Development Fund

(1) The Authority shall establish a fund to be called “Loktak Lake Development Fund” there shall be credited thereto — (a) all sum money gives as grants by the State Government under section 24; (b) Any grants or donations that may be made to the Authority by any other person/institution including external funding agencies / Central Government for the purposes of this Act. (2) The Loktak Lake Development fund shall be applied for meeting any other expenses, which are required to be met by the Authority.