Section 24
Debits to Small Industries Development Assistance Fund.
The Small Industries Development Bank of India Act, 1989
About this Act
An Act to establish the Small Industries Development Bank of India as the principal financial institution for the promotion, financing and development of industry in the small-scale sector and to co-ordinate the functions of the institutions engaged in the promotion, financing or developing industry in the small-scale sector and for matters connected therewith or incidental thereto.
(1) To the Small Industries
Development Assistance Fund shall be debited--
(a) such amounts as may from time to time be disbursed or spend under section 23;
(b) such amounts as may be required for discharging the liabilities in respect of loans received for the purpose of that Fund;
(c) any loss arising on account of investment made out of that Fund; and
(d) such expenditure arising out of, or in connection with, the administration and application of that Fund as may be determined by the Board.
(2) No amount shall be debited to the Small Industries Development Assistance Fund except as provided for in sub-section (1).
(a) such amounts as may from time to time be disbursed or spend under section 23;
(b) such amounts as may be required for discharging the liabilities in respect of loans received for the purpose of that Fund;
(c) any loss arising on account of investment made out of that Fund; and
(d) such expenditure arising out of, or in connection with, the administration and application of that Fund as may be determined by the Board.
(2) No amount shall be debited to the Small Industries Development Assistance Fund except as provided for in sub-section (1).