(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; 1***
2*****
(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 the 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.
(a) all grants, fees and charges received by the Board under this Act; 1***
2*****
(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 the 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.
1. The word "and" omitted by Act 9 of 1995, s. 8 (w.e.f. 25-1-1995). 2. Clause (aa) omitted by Act 59 of 2002, s. 8 (w.e.f. 29-10-2002).