Foundation fund

(1) There shall be constituted a fund called "Siddhesvar Dham Foundation Fund" (hereinafter referred to as the Foundation Fund) which shall be vest in and be administered by the Foundation Fund Committee under sub-section (5). (2) The Foundation Fund shall consist of all donations and contributions made by any person to the Siddhesvara Dham or in the name of any deity installed therein other than those made for any specific purpose and such other amounts as may be directed by the State Government. (3) All amounts credited to the Foundation Fund shall be invested in long term fixed deposits with such bank or banks as the State Government may approve and shall always be kept so invested and no such fixed deposit shall be pledged or otherwise encumbered: Provided that the State Government may permit such out of the Foundation Fund as they may fix to be utilised for any purpose of the Siddhesvara Dham as may specify. (4) All amounts accruing by way of interest on such fixed deposits shall be credited to and form part of Siddhesvara Dham Foundation Fund constituted under this section. (5) The Foundation Fund Committee shall consists of the following members:- (a) the Chief Minister of the State of Sikkim who shall be the Chairman; (b) the Minister-in-Charge of Law who shall be the Vice-Chairman; (c) the Secretary to the Government in Law; (d) the Secretary to the Government in the Finance Department or his nominee who shall not be below the rank of a Joint Secretary; (e) the Collector of the South District; and (f) the Administrator of the Siddhesvara Dham who shall be the Member Secretary. (6) The Committee shall conduct its business in such manner as they may determine. (7) During the absence of the Chairman, the Vice-Chairman shall act as and perform the functions of the Chairman: Provided that the Secretary to the Government in the Law Department shall act as and perform the functions of the Chairman during any period when both the offices of the Chief Minister and the Minister, Law Department remain vacant. (8) Notwithstanding anything to the contrary contained in any law, custom, usage or agreement, no sevak shall be entitled to any share out of the amount of donations or contributions to the Foundation Fund made under sub-section (2).