(1)From the appointed day there shall be established by the Central Government, for the purposes of this scheme, a Fund to be called the Environment Relief Fund.
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(2) The Relief Fund shall be managed and administered by the Fund Manager.
(3) The Fund Manager shall open one or more accounts in the nationalised banks to administer the Relief Fund.
(4) There shall be credited into the Relief Fund—
(i) amounts equal to that of premium of the insurance policy taken by the owner and income from investments along with other monies specified in subsection (2C) of section 4 of the Act;
(ii) money remitted by the owner, as compensation for environment damages caused, under sub-section (1) of section 22 of the National Environment Tribunal Act, 1995 (27 of 1995).