10Jute Fund

(1) There shall be formed a Fund to be called the Jute Fund and there shall be credited thereto-- (a) any fees that may be levied and collected under this Act or the rules made thereunder; (b) any sums of money paid or 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. (2) The Fund shall be applied-- (a) for meeting the cost of the measures referred to in section 7; (b) for meeting the salaries, allowances and other remuneration of the officers and other employees of the Council; (c) for meeting the other administrative expenses of the Council; (d) for repayment of any loans.