Amendment status not verified — confirm the current text below against the official source.
(1) All moneys received or realized by the Board under this Act and all other moneys received as donations, benefactions or grants by the Board shall form a fund to be called the Vanniyakula Kshatriya Public Charitable Trusts and Endowments (Protection and Maintenance) Fund and vest with the Board. (2) All moneys received by the Board, as donations, benefactions and grants for the purposes of the Board shall be deposited and accounted for. (3) The fund specified under sub-section (1) of this section shall be applied to,— (a) repayment of any loan borrowed by the Board and payment of interest thereon; (b) payment of the cost of audit of the Fund and the accounts of trust and endowment; (c) payment of the salary and allowances to the officers and staff of the Board; (d) payment of travelling allowances to the Chairperson, members of the Board and officers and staff of the Board; (e) payment of all expenses incurred by the Board in the performance of the duties imposed, and the exercise of the powers conferred by, or under this Act; (f) payment of all expenses incurred by the Board for the discharge of any obligation imposed on it by or under any law for the time being in force. (4) If any balance remains after meeting the expenditure referred to in sub-section (4), the Board may use any portion of such balance for the preservation and protection of the properties of trust and endowment, or for such other purpose as it may deem fit.