Lawgist9Fund for Technology Development and Application
(1) There shall be constituted a Fund to be called the Fund for Technology Development and Application and there shall be credited to the Fund--
(a) any grants and loans made to the Board by the Central Government under section 8;
(b) all sums received by the Board from any other source;
(c) recoveries made of the amounts granted from the Fund; and
(d) any income from investment of the amount of the Fund.
(2) The Fund shall be applied for meeting--
(a) expenses on the objects and for the purposes authorised by this Act;
(b) salaries, allowances and other expenses of officers and other employees of the Board; and
(c) expenses of the Board in the discharge of its functions under this Act.
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- 1 Short title and commencement
- 2 Definitions
- 3 Constitution and incorporation of the Board
- 4 Secretary and other officers and employees of the Board
- 5 Committees of the Board
- 6 Functions of the Board
- 7 Application for grant of financial assistance, etc
- 8 Grants and loans by the Central Government
- 9 Fund for Technology Development and Application
- 10 Transfer of money receipts and liabilities
- 11 Budget
- 12 Annual report
- 13 Accounts and audit
- 14 Annual report and auditor’s report to be laid before Parliament
- 15 Returns to be furnished to the Board
- 16 Power of the Central Government to issue directions
- 17 Power of Central Government to supersede the Board
- 18 Delegation
- 19 Members, officers and employees of the Board to be public servants
- 20 Protection of action taken in good faith
- 21 Power of Central Government to make rules
- 22 Power of Board to make regulations
- 23 Rules and regulations to be laid before Parliament
