(1) There shall be constituted a Fund to be called the Brahmaputra Board Fund and there shall be credited thereto the sums paid to the Board by the Central Government or by any State Government and all other sums received by the Board.
(2) The Fund shall be applied--
(a) for meeting the salary, allowances and other remuneration of the members, officers and other employees of the Board and other administrative expenses of the Board;
(b) for meeting the expenditure on surveys and investigations undertaken by the Board;
(c) for meeting the cost of construction, operation and maintenance of projects undertaken by the Board;
(d) for meeting the other expenses of the Board in the discharge of its functions under this Act ; and
(e) if any sums are received by the Board under sub-section (2) of section 17, for the payment of such sums to the State Governments concerned.