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Technology Development Board Act, 1995

9.   Fund for Technology Development and Application.

  1. There shall be constituted a Fund to be called the Fund for Technology Development and Application and there shall be credited to the Fund-

  1. Any grants and loans made to the Board by the Central Government under section 8;

  2. All sums received by the Board from any other source;

  3. Recoveries made of the amounts granted from the Fund; and

  4. Any income from investment of the amount of the Fund.

  1. The   Fund shall be applied for meeting-

  1. Expenses on the object and for the purposes authorized by this Act;

  2. Salaries, allowances and other expenses of officers and other employees of the Board; and

  3. Expenses of the Board in the discharge of its functions under this Act.

Technology Development Board Act, 1995 Back

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