Amendment status not verified — confirm the current text below against the official source.
(1) The Authority shall have and maintain its own fund and all receipts of the Authority, including any money receivable from the State Government or the Central Government by way of grant or otherwise, shall be credited thereto and all payments by the Authority shall be made therefrom. (2) The Authority shall be provided by the State Government with such finances as may be necessary for carrying out the purposes of this Act. (3) The fund shall be applied towards meeting the expenses incurred by the Authority for carrying out the purposes of this Act and for no other purpose. (4) All money lying for the maintenance of Bhagirathi River Valley or its development with any other Authority, Department, corporation or with the Government shall be credited to the fund of the Authority provided further the State Government may give the 20% out of the powershare revenue received or receivable by it from the Tehri Dam or such other body or corporation, generating electricity in the same River Valley or such other Corporation engaged in the like activity at other places of the River Valley in the State, to the Authority provided further the amount so received from such powershare may be invested in the development work in or around the may be invested in the development work in or around the River Valley. Opening of Account, Budget and AGM