(1) There shall be constituted a Fund to be called the State Electricity

Regulatory Commission fund and there shall be credited thereto-

1. (a) any grants and loans made to the State Commission by the State Government under Section 102;
2. (b) all fees received by the State Commission under this Act;
3. (c) all sums received by the State Commission from such other sources as may be decided upon by the State Government.

1. (2) The Fund shall be applied for meeting –
   • (a) the salary, allowances and other remuneration of Chairperson, Members, Secretary, officers and other employees of the State Commission;
   • (b) the expenses of the State Commission in discharge of its function under Section 86; and
   • (c) the expenses on objects and for purposes authorised by this Act.
2. (3) The State Government may, in consultation with the Comptroller and Auditor-General of India, prescribe the manner of applying the Fund for meeting the expenses specified in clause (b) or clause (c) of sub-section (2). 52 Accounts and audit of State Commission Annual report of State Commission Budget of Appropriate Commission