Constitution of Port Trust Fund

(1) Save as otherwise provided in this Act there shall be a Port Trust Fund (hereinafter referred to as the Fund) vested in the Board which shall be comprised of- (a) all funds which immediately before the establishment of the Board had vested in Government or any other authority on account of the port under the Indian Ports Act, 1908 and the Orissa Ports Regulation, 1937 ; (b) all moneys received by or on behalf of the Board under the provisions of this Act or any other law for the time being in force or under any contract; (c) all proceeds of the disposal of property by or on behalf of the Board; (d) all rents accruing from any property of the Board; (e) all moneys raised by means of rates, fees, charges and other dues levied for the purposes of this Act; (f) all fines and penalties levied by or under the provisions of this Act; (g) all moneys received by or on behalf of the Board from Government, Central or State or from any individual or association of individuals by way of grant, gift or deposit ; (h) all interests and profits arising from any investment of or from any transaction in connection with, any money belonging to the Board, including loans advanced under this Act; and (i) all moneys received by or on behalf of the Board from any other source whatsoever. (2) The Fund constituted under sub-section (1) shall be held by the Board in trust for the purposes of this Act subject to the provisions herein contained and shall be maintained in the following distinct accounts, namely :- (a) the Pilotage Account relating to all moneys including all fees for Pilotage and all fines and penalties levied under this Act from pilots, harbour-masters or other persons employed in the Pilot Service other than fines and penalties imposed by a court; (b) the general account relating to all moneys received by or on behalf of the Board other than those specified in clause (a); and (c) such other special accounts as Government may, from time to time, direct.