(1) The Corporation shall have and maintain its own fund, to be called ; the West Bengal Industrial Infra-structure Development Corporation Fund, to which shall be credited—
(a) all moneys received by the Corporation from the State Government by way of grants, subventions, loans, advances or otherwise;
(b) all moneys received by the Corporation from borrowings in the open market or from banks and other financial institutions;
(c) all fees, costs and charges received by the Corporation under this Act;
Application of Corporation's assets.
Corporation's fund.
116 The West Bengal Industrial Infra-structure Development Corporation Act, 1974.
XXV of 1974.]
(Chapter 1V.—Finance, Accounts and Audit.—Sections 19-22.)
(d) all moneys received by the Corporation from the disposal of lands, buildings and other properties, movable and immovable and other transactions;
(e) all moneys received by the Corporation by way of rents and profits or in any other manner or from any other source.
(2) The Corporation may keep in current and deposit account with the State Bank of India, or any other bank approved by the State Government in this behalf, such sums of money out of its fund as may be prescribed, and any money in excess of the said sum shall be invested in such manner as may be approved by the State Government.
(3) Such accounts shall be operated upon by such officers of the Corporation as may be authorised by it by regulations made in this behalf.
19. The State Government may, after due appropriation made by the Legislative Assembly by law in this behalf, make such grants, subventions, loans and advances to the Corporation as it may deem necessary for the purposes of the functions of the Corporation under this Act, and all grants, subventions, loans and advances made shall be, on such terms and conditions, as the State Government may, after consulting the Corporation, determine.