Coconut Development Board Act,1979

Act No : 5

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Section : Constitution of Coconut Development Fund

13. Constitution of Coconut Development Fund. (1) There shall be formed a Fund to be called the Coconut Development Fund and there shall be credited thereto-- 1* * * * * (b) any grants or loans granted by the Central Government for the purposes of this Act: (c) any grants or loans that may be made by any person for the purposes of this Act including loans under section 14; (d) any grants or donations from State Governments, voluntary organisations or other institutions: Provided that no such grant, loan or donation shall be credited to the Fund except with the prior approval of the Central Government. (2) The Fund shall be applied-- (a) for meeting the cost of the measures referred to in section 10; (b) for meeting the salaries, allowances and other remuneration of the members, officers and other employees, as the case may be, of the Board; (c) for meeting the other administrative expenses of the Board and any other expenses authorised by or under this Act; (d) for repayment of any loans.

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