(1) There shall be established for the purposes of this Act. a fund to be called the West Bengal Compensatory Entry Tax Fund.
(2) The Fund shall be under the control of the State Government and there shall be credited thereto—
(a) any sum of money credited under section 16:
(b) any sum of money credited under section 17:
(c) any sum realised by the State Government in carrying out its function under this Act or in the administration of this Act;
(d) any fund provided by the Central Government for the development or facilitating the trade, commerce and industry in the State as mentioned in section 18.
(3) The balance to the credit of the Fund shall not lapse at the end of the financial year.
16. The proceeds of the levy under this Act shall first be credited to the Consolidated Fund of West Bengal, and the State Government may, if the State Legislature by appropriation made by law in this behalf so provides, credit such proceeds to the Fund from time to time, after deducting the expenses of collection, for being utilised exclusively for the purposes of this Act.
17. The State Government may, after due appropriation made by the State Legislature by law in this force, credit in the Fund, by way of grants or loans, such sums or money as the State Government may consider necessary.