(1) The Board shall have its own fund and all receipts and sums which may, from time to time, be received by the Board from the State Government or any other person or agency and the amount charged by the Board under section 21, shall be credited thereto and all payments of the Board shall be made therefrom.
(2) The Board shall have the power, subject to the provisions of this Act, to spend such sums as it thinks fit to cover administrative expenses and for the performance of its functions and such sums shall be treated as expenditure payable out of the fund of the Board.
(3) All money standing at the credit of the Board which cannot immediately be applied as provided in sub-section (2), shall be deposited in the Scheduled Bank or Banks or in the Public Account of the State Government or may be deployed in such other manner and subject to such conditions as are contained in regulations framed by the Board for this purpose.