Sugar Development Fund Act : APPLICATION OF FUND Indian Bare Acts :

Sugar Development Fund Act,1982

Act No : 4

Section : APPLICATION OF FUND

SECTION 04: APPLICATION OF FUND

(1) The Fund shall be applied by the Central Government,-

(a) for making loans for facilitating the rehabilitation and modernisation of any sugar factory or any unit thereof or the undertaking of any schema for development of sugarcane in the area in which any sugar factory is situated;

4"(aa) for making loans to any sugar factory or any unit thereof for biogases based co-generation power projects with a view to improving their viability;

4(aaa) for making loans to any sugar factory or any unit thereof for production of anhydrous alcohol or ethanol from alcohol with a view to improving their viability;";

(b) for making grants for the purpose of any research project aimed at development of sugar industry;

3[(bb) for defraying expenditure for the purpose of building up and maintenance of buffer stocks of sugar with a view to stabilising price of sugar;]

4 "(bbb) for defraying expenditure on internal transport and freight charges to the sugar factories on export shipments of sugar with a view to promoting its export;".

(c) for defraying any other expenditure for the purposes of this Act.

(2) The manner in which any loans or grants may be made under this section and the terms and conditions subject to which such loans or grants may be made shall be such as may be prescribed.