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Fund.
14. (1) There shall be constituted a Fund to be called the Securities and Exchange Board of India General Fund and there shall be credited thereto-
(a) all grants, fees and charges received by the Board under this Act;
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(b) all sums received by the Board from such other sources as may be decided upon by the Central Government.
(2) The Fund shall be applied for meeting -
(a) the salaries, allowances and other remuneration of members, officers and other employees of the Board;
(b) the expenses of the Board in the discharge of its functions under section 11;
(c) the expenses on objects and for purposes authorised by this Act. |