22Constitution of the Fund

(1) There shall be constituted a Fund to be called the National Capital Regional Planning Board Fund and there shall be credited there to--

(a) any grants and loans made to the Board by the Central Government under section 21;

(b) all sums paid to the Board by the participating States and the Union territory; and

(c) all sums received by the Board from such other sources as may be decided upon by the Central Government in consultation with the participating States and the Union territory.

(2) The sums credited to the said Fund referred to in sub-section (1) shall be applied for--

(a) meeting the salaries, allowances and other remuneration of the Member-Secretary, officers and other employees of the Board and for meeting other administrative expenses of the Board, so, however, that the total expenses shall not exceed the amount appropriated for this purpose under sub-section (2) of section 21;

(b) conducting surveys, preliminary studies and drawing up of plans for the National Capital Region;

(c) providing financial assistance to the participating States and the Union territory for the implementation of Sub-Regional Plans and Project Plans; and

(d) providing financial assistance to the State concerned for the development of the counter-magnet area subject to such terms and conditions as may be agreed upon between such State and the Board.