(a) The proceeds of the customs duty levied under section 13 of the Act shall first be credited to the Consolidated Fund of India,
(b) The proceeds of the customs duty, after deducting the expenses of collection shall then be credited to the “Coir Improvement Fund” under section “P-Deposits not bearing interest (b) – Reserve Funds”
(c) The licence fees levied and collected by the Board shall be credited to the Coir Fund.
(d) All expenditure of the Coir Board shall be charged to a separate minor head under the Major Head “43-industries and supplies”. The expenditure will be met from the coir Fund to which payments to be made by the Central Government to the Board under section 14 of the Act shall also be credited.
* (e) The amounts of the Board shall be kept with the Central Government in a personal deposit account at a treasury provided that the Board may keep such amounts as may be necessary for day to day expenses with the State Bank of India or any of its subsidiaries.
(f) Withdrawal of funds shall require the sanction of the Chairman or the Vice-Chairman.
(g) Payments by or on behalf of the Board shall be made in cash or by cheque drawn against a current account of the Board.
26. Sending persons abroad: The Board shall not send any officer of the Board or any member to places outside India without the previous sanction of the Central Government.