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Section 39: Custody and disbursement of funds

The Tea Rules, 1954Central Rules · 1953

(I1) The proceeds of the duty of •customs levied under Section 25 of the Act, shall first be credited to the Consolidated Fund of India.

(2) The said proceeds after deducting the expenses of collection shall then be credited to a Fund named the 'Tea Improvement Fund' in 'Section P—Deposits not bearing interests (B)—Reserve Funds.

(3) The fees levied and collected by the Board under Rules 28 and 29 shall be credited to the Tea Fund.

(4) All expenditure of the Tea Board shall be charged to a separate minor Head under the Major Head "43—Industries and Supplies". The expenditure will •foe met from the Tea Fund to which payments to be made by the Central Government to the Board under Section 26 of the Act shall also be credited.

(5) The current accounts of the Board shall be kept in banks approved by the Central Government.

(6) Withdrawal of funds shah require the sanction of the Chairman or the Vice-Chairman.

(7) Payments by or on behalf of the Board shall be made in cash or by cheque drawn against a current account of the Board.

Where this provision sits

ActThe Tea Rules, 1954
Section39
Marginal noteCustody and disbursement of funds
JurisdictionCentral
StatusIn force as published by the source

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