Section 13: Constitution of Coconut Development Fund.
The Coconut Development Board Act, 1979Central Act · Act 5 of 1979
(1) There shall be formed a Fund to be called the Coconut Development Fund and there shall be credited thereto--
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(b) any grants or loans granted by the Central Government for the purposes of this Act;
(c) any grants or loans that may be made by any person for the purposes of this Act including loans under section 14;
(d) any grants or donations from State Governments, voluntary organisations or other institutions:
Provided that no such grant, loan or donation shall be credited to the Fund except with prior approval of the Central Government.
(2) The Fund shall be applied--
(a) for meeting the cost of the measures referred to in section 10;
(b) for meeting the salaries, allowances and other remuneration of the members, officers and other employees, as the case may be, of the Board;
(c) for meeting the other administrative expenses of the Board and any other expenses authorised by or under this Act;
(d) for repayment of any loans.
Where this provision sits
How this provision has been amended
Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.
- omitted, Act 4 of 1987. . Clause (a) omitted by Act 4 of 1987, s. 10 (w.e.f. 21-3-1987).
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