( 1) There shall be formed a Fund for each s )Ciety to be called the Fisheries Village Society's Fund of the fisheries viUage for which the society is constituted and there shall be credited thereto- b
(a) any grants or loans that may be made by the Government under section 19 ;
(b) any grants or loans that may be made by any person or institu tion for the purposes of this Act; and
(c) all sums realised by the societies in carrying out the measures referred to in section 17.
(2) The Fund shall be administered by the committee subject to such rules as may be made in this behalf and shall be applied-
(a) for meeting the salaries, allowances and other remunerations of the officers and other employees of the society; •
(b) for meeting the other administrative expenses of the society;
(c) for meeting the cost of the measures referred to in section 17;
and
(d) for repayment of any loans from the Government or from any • • • person or InStitution.