Electricity Act, 2003
103. Establishment of Fund by State Government.-
1. There shall be constituted a Fund to be called the State Electricity Regulatory Commission Fund and there shall be credited thereto--
a. any grants and loans made to the State Commission by the State Government under section 102;
b. all fees received by the State Commission under this Act;
c. all sums received by the State Commission from such other sources as may be decided upon by the State Government.
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 functions under section 86;
c. the expenses on objects and for purposes authorised by this Act.
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).
