(1) On the date of commencement of this Act, a Fund to be called the Employment Guarantee Fund shall be deemed to be established.
(2) Any amount standing to the credit of the Employment Guarantee Fund established under the Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975 (Mah. XVI of 1975) read with the Maharashtra Tax Acts (Amendment) Act, 1975 (Mah. XVII of 1975), shall stand transferred to, and form part of, the Fund deemed to be established under sub-section (1) with effect from the date of commencement of this Act.
(3) The following shall form part of, or be paid into, the fund, namely :-
[(a) the amounts transferred to the Fund under section 30 of the Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975 (Mah. XVII of 1975);]
(b) any contributions or grants made by the State Government, the [* *] or any local authority;
[* * *]
(c) any sums received from other bodies or individuals, whether incorporated or not.
[(3A) The State Government shall allocate requisite funds for effective implementation of the Scheme.]
(4) Any amount transferred or credited to the Fund shall be charged on the Consolidated Fund of the State.
(5) The amount standing to the credit of the Fund shall be expended in such manner and subject to such conditions as may be prescribed for the purpose of implementing the Scheme [including for meeting the administrative charges and for making ex-gratia payments as provided under this Act].
(6) Temporary diversions of funds for utilisation on other departmental schemes or plan schemes, which have for their objective, the generation of employment or the creation of productive assets or both may be permitted by the State Government's subject to the Fund being reimbursed by such amount in the same or next financial year.
(7) The Fund shall be held and administered on behalf of the State Government by an officer not below the rank of a Secretary to the State Government, subject to such general or special directions as may be given by the State Government, from time to time.