13Funds of Foundation.

(1) The Foundation shall receive monies from the following sources, namely:--
(a) grants and loans of such sums of money as the Central Government may consider necessary, after due appropriation made by Parliament by law in this behalf;
(b) any sums received for research and development, including through donations from any other source, including from public sector enterprises, the private sector, philanthropist organisations, foundations or international bodies;
(c) recoveries made of the amounts granted to the Foundation;
(d) any income from investment of the amounts received by the Foundation;
(e) all amounts with the Fund for Science and Engineering Research under the Science and Engineering Research Board Act, 2008 (9 of 2009) as on the appointed date; and
(f) such other sources as may be prescribed.
(2) The Governing Board shall constitute the following Funds, into which it shall allocate, in the manner as it determines fit, the amounts received from clauses (a), (b), (c), (d) and (f) of sub-section (1), namely:--
(a) the Anusandhan National Research Foundation Fund, which shall be used for the financing of activities under the Act, including expenses, salaries, allowances and other administrative exigencies for achieving the objectives of the Foundation;
(b) the Innovation Fund for supporting outstanding creativity in the areas supported by the Foundation;
(c) the Science and Engineering Research Fund for continuation of the projects and programmes initiated under the Science and Engineering Research Board Act, 2008 (9 of 2009); and
(d) one or more Special Purpose Funds for any specific project or research.
(3) The Governing Board shall maintain the Science and Engineering Research Fund referred to in clause (c) of sub-section (2) for such time as it may determine necessary, and allocate to such Fund, the following amounts, namely:--
(a) all amounts under clause (e) of sub-section (1); and
(b) any further amounts from any of the other sources of Funds received by the Foundation, as may be determined to be necessary for the implementation of such projects and programmes, based on a review and assessment by the Executive Council.
(4) The Central Government shall frame such financial rules for the utilisation of the amounts in the Funds established under this Act.