Section 9
Fund for Technology Development and Application.
The Technology Development Board Act, 1995
About this Act
An Act to provide for the constitution of a Board for payment of equity capital or any other financial assistance to industrial concerns and other agencies attempting development and commercial application of indigenous technology or adapting imported technology to wider domestic applications and for matters connected therewith or incidental thereto.
(1) There shall be constituted a Fund to
be called the Fund for Technology Development and Application and there shall be credited to the
Fund--
(a) any grants and loans made to the Board by the Central Government under section 8;
(b) all sums received by the Board from any other source;
(c) recoveries made of the amounts granted from the Fund; and
(d) any income from investment of the amount of the Fund.
(2) The Fund shall be applied for meeting--
(a) expenses on the objects and for the purposes authorised by this Act;
(b) salaries, allowances and other expenses of officers and other employees of the Board; and
(c) expenses of the Board in the discharge of its functions under this Act.
(a) any grants and loans made to the Board by the Central Government under section 8;
(b) all sums received by the Board from any other source;
(c) recoveries made of the amounts granted from the Fund; and
(d) any income from investment of the amount of the Fund.
(2) The Fund shall be applied for meeting--
(a) expenses on the objects and for the purposes authorised by this Act;
(b) salaries, allowances and other expenses of officers and other employees of the Board; and
(c) expenses of the Board in the discharge of its functions under this Act.