(1) There shall be constituted a Fund, to be called the Punjab Urban Transport Fund, which shall vest in the Committee.
(2) The Fund shall be administered by such officer or officers of the Committee as may be appointed by it in this behalf.
(3) The additional cess collected under section 6 and the grants from the Government and the Municipalities and the loans raised under this Act shall be credited to the Fund within such period as may be prescribed.
8. The Fund shall be utilized for the following purposes, namely:-
(1) to accelerate urban transport development, viability gap funding and infrastructure for urban transport projects recommended or approved under the various Schemes of the State Government or the Central Government duly considered by the Committee;
(2) financial support to various special purpose vehicles and institutions of the State implementing urban transport projects;
(3) conducting studies pertaining to urban transport;
(4) expenses involved in hiring of consultants for various urban transport activities and studies relating to urban transport;
(5) organizing capacity building, orientation and training programmes which may include seminars, conferences on urban transport; and Utilization of Fund.
PUNJAB GOVT. GAZ. (EXTRA), SEPTEMBER 17, 2019 (BHDR 26, 1941 SAKA) 137 Power to make regulations.
(6) any other purpose relating to urban transport as the Committee deems fit.
9. No suit, prosecution or other legal proceeding shall lie against the Government or any officer or employee of the Government or the Punjab Municipal Infrastructure Development Company, in respect of anything which is in good faith done or intended to be done in pursuance of this Act or rules made or any order issued thereunder.