Technology Development Board Act : Fund for Technology Development and Application. Indian Bare Acts

Technology Development Board Act,1995

Act No : 44

Section : Fund for Technology Development and Application.

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- (a) any grants and loans made to the Board by the Central Government under section 8; (b) all sums received by the Board from any other source; (c) recoveries made of the amounts granted from the Fund; and (d) any income from investment of the amount of the Fund. (2) The Fund shall be applied for meeting- (a) expenses on the object and for the purposes authorised by this Act; (b) salaries, allowances and other expenses of officers and other employees of the Board; and (c) expenses of the Board in the discharge of its functions under this Act.