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Special Economic Zones Act, 2005

36. Constitution of Fund and its application

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.

1.     

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.



Special Economic Zones Act, 2005 Back




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