Lawgist.Download the App Now!
Get our Android app for fast and offline Access.
(1) There shall be constituted by a Board a fund to be called the Building and Other Construction Workers' Welfare Fund and there shall be credited thereto-- (a) any grants and loans made to the Board by the Central Government under section 23; (b) all contributions made by the beneficiaries; (c) all sums received by the Board from such other sources as may be decided by the Central Government. (2) The Fund shall be applied for meeting-- (a) expenses of the Board in the discharge of its functions under section 22; and (b) salaries, allowances and other remuneration of the members, officers and other employees of the Board; (c) expenses on objects and for purposes authorised by this Act. (3) No Board shall, in any financial year, incur expenses towards salaries, allowances and other remuneration to its members, officers and other employees and for meeting the other administrative expenses exceeding five per cent. of its total expenses during that financial year.
<span style="margin-left:15px;"></span>(1) There shall be constituted by a Board a fund to be called the Building and Other Construction Workers' Welfare <br> <span style="margin-left:15px;"></span> Fund and there shall be credited thereto--<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span> (a) any grants and loans made to the Board by the Central Government under section 23;<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span> (b) all contributions made by the beneficiaries;<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span> (c) all sums received by the Board from such other sources as may be decided by the Central Government.<br> <span style="margin-left:15px;"></span> (2) The Fund shall be applied for meeting--<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span> (a) expenses of the Board in the discharge of its functions under section 22; and<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span> (b) salaries, allowances and other remuneration of the members, officers and other employees of the Board;<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span> (c) expenses on objects and for purposes authorised by this Act.<br> <span style="margin-left:15px;"></span> (3) No Board shall, in any financial year, incur expenses towards salaries, allowances and other remuneration to its members, officers and other employees and for meeting the other administrative expenses exceeding five per cent. of its total expenses during that financial year.<br><br>