(1) The Corporation shall have and maintain its own fund, to which it shall be credited,- Transfer of Government lands to Corporation.
Powers of Corporation to dispose of land etc.
Application of Corporation assets etc.
Fund of the Corporation.
[Act No.37 of 1998] 21
(a) all moneys received by the Corporation from the Government by way of grants, subventions, loans, advances and the loans raised under this Act;
(b) all fees, costs and charges received by the Corporation under this Act;
(c) all moneys received by the Corporation from the disposal of lands buildings and other properties, movable and immovable, and other transactions;
(d) all moneys received by the Corporation by way of charges, from all projects works and schemes, rents and profits or from any other sources.
(2) The Corporation may keep current and deposit account with such bank or banks, specified by the Government in this behalf.
(3) Such accounts shall be operated by such Officers of the Corporation as may be authorised by it in this behalf.
(4) Notwithstanding anything contained in sub-sections
(2) and (3) the Corporation may keep on hand such sums as it thinks fit for its day to day transaction, subject to such limits and conditions as may be prescribed.