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The Warehousing (Development and Regulation) Act, 2007

37. Constitution of fund. -

1.  There shall be constituted a fund to be called the Warehousing Development and Regulatory Authority Fund and there shall be credited thereto-

a.   all Central Government grants, fees and charges received by the Authority;

b.   all sums received by the Authority from such other source as may be decided upon by the Central Government;

c.   all sums realised by way of penalties under this Act.

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 other expenses of the Authority in connection with the discharge of its functions and for the purposes of this Act.



Warehousing (Development and Regulation) Act, 2007 Back




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