Warehousing (Development and Regulation) Act,2007 : Constitution of fund. Indian Bare Acts :

Warehousing (Development and Regulation) Act,2007,2007

Act No : 37

Section : Constitution of fund.

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.(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.