Establishment of Fund

Establishment of Fund:

1. (1) As soon as maybe after constitution of the Board, there shall be established a Fund to be called 'The Mizoram Road Fund'.
2. (2) The Fund shall consist of the following:
   • (a) grants received by the Government from Government of India for the rehabilitation or repair and maintenance of roads.
   • (b) fees, fines and other amounts collected by the Government under the Mizoram Highways Act 2002.
   • (c) an amount to be appropriated from the Consolidated Fund of the State within one month from the commencement of this Act, and thereafter in accordance with the Appropriation Acts, shall be an amount equal to any cess on diesel and petrol, any road and road transport related taxes and fees collected under this Act at the end of the preceding year. The rates or amount of collections under this Act shall be decided by the Government from time to time.
   • (d) toll fees on bridges or busy roads as may be notified by the Government.
   • (e) any grant, aid, bequest, subsidy, donation, gift, subscription, loan or other sums lawfully received by the Board.