17Constitution of the Fund

(1) There shall be formed a Fund to be called the Marine Products Export Development Fund and there shall be credited thereto--

(a) the proceeds of the cess made over to the Authority by the Central Government;

(b) all fees levied and collected in respect of registration made under this Act;

(c) any other fee that may be levied and collected by the Authority under this Act or the rules made thereunder;

(d) any grants or loans that may be made by the Central Government for the purposes of this Act;

(e) any grants or loans that may be made by any institution for the purposes of this Act; and

(f) all sums realised by the Authority in carrying out the measures referred to in section 9.

(2) The Fund shall be applied--

(a) for meeting the salaries, allowances and other remuneration of the officers and other employees of the Authority;

(b) for meeting the other administrative expenses of the Authority;

(c) for meeting the cost of the measures referred to in section 9; and

(d) for repayment of any loans from the Central Government or from any institution.