Amendment status not verified — confirm the current text below against the official source.
The State Government may, after due appropriation made by State Legislature by law in this behalf, make to the Authority, grants and loans of such sums ofmoney as the State Government may think fit for beingNEW . (1) The appropriate Government shall constitute a fund to be called the 'Real Estate gulatory Fund' and there shall be credited thereto,— (a) all Govemment grants received by the Authority; (b) the fees received under this Act; (c) the interest accrued on the amounts referred to in clauses (a) to (b). (2) The Fund shall be applied for meeting— (a) the salaries and allowances payable to the Chairperson and other Members, the adjudicating officer and the administrative expenses including the salaries and allowances payable to be officers and otheremployees oftheAuthority and theAppellate Tribunal; (12) the other expenses of the Authority in connection with the discharge of its functions and for the pruposes of this Act. (3) The Fund shall be administered by a committee of such Members of the Authority as may be determined by the Chairperson. (4) The committee appointed under sub-section (3) shall spend monies out ofthe Rind for carrying out the objects for which the Fund has been constituted.