Securities and Exchange Board of India Act,1992

Act No : 15

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Section : Fund.

14. Fund. (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; 3*** 4*[(aa) all sums realised by way of penalties under this Act; and (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. Subs. by Act 9 of 1995, s.7 (w.e.f. 25-1-1995). 2. Ins. by s. 7, ibid. (w.e.f. 25-1-1995). 3. Omitted by s. 8, ibid. (w.e.f. 25-1-1995). 4. Ins. by s.8, ibid. (w.e.f. 25-1-1995). 71

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