(1) There shall be constituted a fund to be called the Protection of Plant Varieties Authority Account and there shall be credited thereto--
         (a) all grants and loans made to the Authority by the Central Government under section 60;
         (b) all fees received by the Authority and the Registrars except the annual fee determined on the basis of benefit or royalty under sub-section (1) of section 35;
         (c) all sums received by the Authority from such other sources as may be decided upon by the Central Government.
     (2) The Protection of Plant Varieties Authority Account shall be applied for meeting--
     (a) the salaries, allowances and other remuneration of the Chairperson, officers and other employees of the Authority and allowances, if any, payable to the members;
     (b) the other expenses of the Authority in connection with the discharge of its functions and for purposes of this Act.