(1) The Government shall, by notification, constitute a Fund2 to be called the Project Preparation Fund with an initial corpus of such amount, as may be specified in that notification.
(2) The Fund may be credited with the grants made by the Government from time to time for the purpose and the amount collected as fees, user charges and abuser charges.
1 Tamil Nadu Infrastructure Development Fund was constituted with an initial corpus of Rs.10,00,00,000/- (Rupees Ten crores only). [Notification No.II(2)/FIN/193(a-1)/2013 published in Part II–Section 2 of the Tamil Nadu Government Gazette Extraordinary No.43, dated the 15th February 2013. - G.O. Ms.No.39, Finance(Infrastructure Cell) Department, dated 14-2-2013.]
2 Project Preparation Fund was constituted with an initial corpus of Rs.5,00,00,000/- (Rupees Five crores only). [Notification No.II(2)/FIN/193(a-2)/2013 published in Part II–Section 2 of the Tamil Nadu Government Gazette Extraordinary No.43, dated the 15th February 2013. - G.O. Ms.No.40, Finance(Infrastructure Cell) Department, dated 14-2-2013.]
THE TAMIL NADU INFRASTRUCTURE DEVELOPMENT ACT, 2012.
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(3) The Fund may, with the prior concurrence of the Government, also be credited with the contributions received from public bodies, multilateral lending agencies or other financial institutions.
(4) The Fund may be utilised to provide financial support for conducting studies, hiring the services of experts and consultants, preparing feasibility studies, detailed project studies, capacity building, research and for such other purposes, as may be prescribed in the rules.
(5) The Fund shall be managed and utilised by the Board in such manner, as may be prescribed in the rules.