Section 24: Fund of Authority

(1) The Authority shall have its own fund called the Disaster Management Fund and all receipts of the Authority shall be credited thereto and all payments by the Authority shall be made therefrom. (2) The Authority may accept grants, subscriptions, donations and gifts from the Central or State Government or a local authority or any individual or body, whether incorporated or not, for the purposes of this Act. (3) The money from the fund may be applied in payment of-- (i) expenses incurred by the Authority in performing its functions under this Act, (ii) remuneration to members, (iii) salaries and allowances to officers and employees of the Authority, (iv) expenses for such other purposes of the Act as may be prescribed. (4) (a) All moneys belonging to the fund of the Authority shall be deposited in such Nationalized bank as the State Government may, by general or special order, direct. (b) Where the amount in the fund is not required to be applied immediately or at an early date for the purpose of this Act, it may be invested in any of the securities specified in clause (a), (b), (bb), (c) or (d) of section 20 of the Indian Trusts Act, 1882; (c) Any interest earned on such deposits and investments shall be credited to the fund.