14Provisions relating to existing Central Road and Infrastructure Fund.

14. Provisions relating to existing Central ¹[Road and Infrastructure Fund].--With effect from the appointed day the Central Road Fund governed by the Parliamentary Resolution dated the 13th May, 1988 (hereafter referred to in this section as the existing Fund) shall be deemed to be the Fund established under this Act and,--
(a) all schemes relating to development and maintenance of national ²[highways, State roads and other infrastructure] sanctioned under the existing Fund in so far as such schemes are relatable to the schemes under this Act, shall be deemed to be the schemes sanctioned under this Act;
(b) all funds accrued under the existing Fund including assets and liabilities shall be transferred to the Fund established under this Act.