52. (1) There shall be constituted a fund to be known as “Fire Prevention and Life Safety Fund”.
(2) The proceeds of fire fees, tax and penalties (other than fines) recovered under this Act, shall first be credited to the Consolidated Fund of the State and after deduction of the expenses of collection and recovery therefrom, under appropriation duly made by law in this behalf, be entered in, and transferred to, Fund constituted under sub-section (1).
(3) Any amount transferred to the fund under sub-section (2) shall be charged on the Consolidated Fund of the State.
(4) The amount of the fund shall be expended in such manner and under such conditions as may be prescribed, for the purposes of this Act.
(5) The fund shall be reflected into the budget estimate of the respective authority and the accounts in respect thereof shall be maintained and audited in accordance with the procedure prescribed for this purpose of maintenance of accounts on the relevant law or the rules and orders made thereunder as are applicable to the respective authority.
(6) The fund shall be utilized for community preparedness, infrastructure, training and procurement of fire-fighting equipment as prescribed in the rules.