Constitution of Fund and its application.

General200558 sections8 chapters

Chapter VII SPECIAL ECONOMIC ZONE AUTHORITY

Statutory text

(1) There shall be established by every Authority a Fund to be called the.......... (the name of the Special Economic Zone concerned) Authority Fund and there shall be credited thereto--
- (a) all sums of money, which the Central Government may, after due appropriation made by Parliament by law in this behalf, provide to the Authority;
- (b) all grants or loans that may be made to the Authority under this Act;
- (c) all sums received on account of user or service charges or fees or rent for the use of properties belonging to the Authority;
- (d) all sums received by the Authority from such other sources as may be decided upon by the Central Government.
(2) The Fund shall be applied for meeting--
- (a) the salaries, allowances and other remuneration of the members, officers and other employees of the Authority;
- (b) the expenses of the Authority in the discharge of its functions under section 34;
- (c) the repayment of any loan;
- (d) the expenses on objects and for purposes authorised by this Act;
- (e) any other administrative expenses of the Authority.

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