(1) There shall be established for the purposes of this Act, aTund to be called the West Bengal Transport Infrastructure Development 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 6;
(b) any sum of money credited under section 7;
(c) any sum realised by the State Government in carrying out its functions under this Act or in the administration of this Act;
(d) any fund provided by the Central Government for the creation, development, maintenance or improvement of transport infrastructure.
(3) The balance to the credit of the Fund shall not lapse at the end of the financial year.
6. The proceeds of the cess levied under section 4 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.
7. The State Government may, after due appropriation made by the State Legislature by law in this behalf, credit in the Fund, by way of grants or loans, such sums of money as the State Government may consider necessary.
8. The Fund shall be utilised for—
(a) the creation, development, maintenance or improvement of transport infrastructure, including roads, bridges and flyovers;
(b) the improvement of traffic operations and road safety;
(c) the purposes of such other projects as may be prescribed.
CHAPTER V Management of the Fund
9. The State Government shall maintain proper accounts and other relevant records in such form, and in such manner, as may be prescribed.
10..- The State Government shall administer the Fund and take such decisions regarding investment in projects of transport infrastructure, traffic operation and road safety as it considers necessary.
Maintenance, of accounts.
Administration of Fund.
4 THE KOLKATA GAZETTE, EXTRAORDINARY, JANUARY 3, 2003 [PART III The West Bengal Transport Infrastructure Development Fund Act, 2002.
(Sections 11-13 and Schedules.)
CHAPTER VI Miscellaneous Power to make rules.
Amendment of West Ben. Act XLIX of 1994.
Repeal and saving.