State Board's Fund, its custody and investment.

<span style="margin-left:15px;"></span>(<i>1</i>) The State Board shall have its own Fund, and the following moneys shall be credited thereto,-<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span>(<i>a</i>) fees, royalties and charges (including prescribed penalties) levied by it;<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span><i>(b)</i> grants, assignments, contributions and loans, if any, made to it by the State Government;<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span>(<i>c</i>) bequests, donations and endowments, or other contributions, if any;<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span>(<i>d</i>) interest on, and sale proceeds of, any securities vested in it;<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span>(<i>e</i>) all rents and profits from the property vested in it;<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span>(<i>f</i>) other moneys received by or on behalf of it.<br> <span style="margin-left:15px;"></span>(<i>2</i>) The Fund shall be kept in any Scheduled Bank as defined in the Reserve Bank of India Act, 1934 (II of 1934), or at the discretion of the State Board, be invested in securities authorised by the Indian Trusts Act, 1882 (II of 1882). <br>