(1) The Government may constitute a fund known as the Meghalaya Heritage Fund for the purpose of maintenance and improvement of heritage areas, heritage buildings, heritage precincts and heritage sites and environmental sensitivity.
(2) Government may , from time to time, allocate to the Funds money from the Consolidated Fund of the State and contributions to the Fund may also be received by way of donations, grant s etc. from individuals, trusts, local bodies, companies and other agencies towards heritage conservation.
(3) Money may be advanced by the Government to the Authority, as grants of loans, on such terms and conditions as the Government may determine, for the performance of its functions under this Act.
(4) The said fund shall be administered by the Government and audited by the Accountant General every year.
(5) The Authority shall utilise the Fund for meeting -
(a) the cost of acquisition of heritage building or heritage or heritage area for the purpose of conservation.
(b) the expenditure for any development or works contemplated in the heritage conservation plant.
(6) The Authority may disburse funds to the owners, leases or power of attorney holders of Sites/ heritage buildings even if they are private, for maintenance of the buildings in good condition if such repairs are found necessary after the inspections as per clause (iv) of Section 7. (7) The Authority shall prepare every year, a budget in respect of the next financial year with it s estimated receipt s and expenditure under the fund and forward to Government for approval of the same. The Government shall approve the same with or without modification.