(1) The Board shall have its own fund.
(2) The Board may accept grants, subventions, donations and gifts from the Central or State Government or a local authority or any individual or body whether incorporated or not for all or any of the purposes of this Act.
(3) All moneys received by or on behalf of the Board by virtue of this Act including such sum as may be paid to the Board by the State Government at the time of establishment of the Board under section 3, all proceeds of land or any other kind of property sold by the Board, all rents and all interests, profits and other moneys accruing to the Board shall constitute the fund of the Board.
(4) Except as otherwise directed by the State Government, all moneys and receipts specified in the foregoing provision and forming part of the fund of the Board shall be deposited in the State Bank of India or any other Bank included in the Second Schedule to the Reserve Bank of India Act, 1934 (Central Act II of 1934) or invested in such other form or such other securities as may be approved by the State Government.
(5) Such account shall be operated upon by such officers as may be authorised by the Board.
66. All property, fund and all other assets vesting in the Board shall be held and applied by it, subject to the provisions and for the purposes of this Act.