Amendment status not verified — confirm the current text below against the official source.
Board’s Fund.- (1) The Board shall have a fund called the Information Technology Investment Region Fund. (2) The Board may accept grants, subventions, donations and gifts from the Central Government or the State Government or a local authority or any individual or body, whether incorporated or not, for all or any of the purposes of this Act. (3) All moneys received by or on behalf of the Board by virtue of this Act, all proceeds of land or any other kind or property sold by the Board, all rents, and all interest, profits and other moneys accruing to the Board, shall constitute the Information Technology Investment Region Fund. (4) Except as otherwise directed by the State Government, all moneys and receipts specified in the foregoing provisions and forming part of the fund of the Board shall be deposited in the Reserve Bank of India or in any Scheduled Bank or invested in such securities as may be approved by the State Government.