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.

2. 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.