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.