Amendment status not verified — confirm the current text below against the official source.
(1) The amount credited to the General Fund under section 74 shall be applied by the Board in payment of the 54 following charges, namely:— (a) liabilities against loans that may have been raised or obtained by the Board and payment to the sinking fund established for such loan; (b) Salaries, fees, remunerations, allowances, pensions, gratuities, compassionate allowances or other moneys due to the Chairperson and other members of the Board, the employees of the Board and the surviving relatives, if any, of such employees; (c) contributions, if any, payable to the Central or State Government on account of pension and leave allowance of any officer lent to the Board by such State Government; (d) the cost and expenses, if any, incurred by the Board in the conduct and administration of any provident fund, welfare fund, loan or special fund established by the Board; (e) the contributions, if any, duly authorised to be made, by regulations made under this Act, to any such fund referred to in clause (d); (f) contribution payable by the Board towards the expenses in connection with the watch and ward functions of the Police Force or the Central Industrial Security Force or any other Force established and maintained for the protection of the port and the docks, warehouses and other property of the Board; (g) the cost of repairs and maintenance of the property belonging to, or vested in, the Board and all charges upon the same, and all working expenses; (h) the cost of the execution and provision of any new work or appliance specified in section 25 which the Board may determine to charge to revenue; (i) any expenditure incurred towards works and services undertaken under section 26; 55 (j) any other expenditure which may be incurred by the Board generally for the purposes of this Act; and (k) any other charge which may on the application of the Board or otherwise be specially sanctioned by the State Government or for which the Board may be legally liable. (2) All monies standing at the credit of the Board which cannot immediately be applied in the manner or for the purposes specified in sub-section (1), shall be deposited in a nationalized bank, or be invested in such public securities as may be determined by the Board to be held in trust for the purposes of this Act. Power to transfer moneys from general account to specified particular account and vice versa.