Amendment status not verified — confirm the current text below against the official source.
(1) There shall be constituted a Fund to be called the Invest Meghalaya Fund and shall be credited thereto- (a) all grants, fees and charges received by the Authority under this Act; and (b) all sums received by the Authority from such other sources, as may be decided by the Government. (2) The Fund shall be used for- (a) the remuneration and other allowances payable to the Chief Executive Officer and the members, and the administrative expenses including the salaries or remuneration of employees, Unified Investment Portal maintenance, hiring of consultancy firms or Consultants, third party vendors, allowances, pension, and day-to-day operations payable to or in respect of officers and other employees of the Authority; and (b) the expenses incurred for meeting out the objectives and purposes authorized by this Act.