Amendment status not verified — confirm the current text below against the official source.
(1) The Authority shall have and maintain a separate fund to be kept in a Government Treasury or a Commercial Bank to which shall be credited,- (a) all moneys received by the Authority from the Government by way of grants, loans, advances or otherwise; (b) grant-in-aid and loans made available by the Central Government for development activities in the command area under the Central Sector Schemes; (c) any other funds provided for taking up any of the various development activities for specified programmes; (d) loans raised by the Authority from credit agencies; and (e) all other funds received by the Authority from any other source. (2) The fund shall be utilised for the purpose of this Act in such manner as may be prescribed by rules.