(a) There shall be a Fund to be called as “Bihar Road Safety Fund”.
(b) This Fund shall be non-lapsable.
(c) This fund shall vest in and be administered by the Bihar Road Safety Council.
(d) The Council, the Executive Committee, Principal Secretary/ Secretary Transport Department and Member Secretary of the Council with the help of Lead Agency shall be responsible for the proper management of the Fund.
(e) The amount appropriated under Section 6A and 6B of Bihar Motor Vehicles Taxation (Amendment) Act, 2016 shall be credited to the Fund.
(f) All amounts to be credited to the fund shall be deposited in the receipt Budget-Head.
(g) An account for the fund shall be opened in the same bank as the receipt of other taxes levied under this Act or in such other bank as the State Government may, by notification, specify.
(h) This account shall be operated by the joint signatures of Principal Secretary/Secretary of the Transport Department and the State Transport Commissioner.
(i) The Member Secretary of the Council shall be the Drawing and Disbursing Officer for the purpose of the Fund.
(j) The Council may sub-allot a part of the Bihar Road Safety Fund to the District Road Safety Committees and Stakeholder Departments for scheme and contingent office expenditures.