Section 16 in Rail Land Development Authority (Constitution) Rules, 2007
16. Vesting and application of Fund.
(1)The fund shall vest in and be held and applied by the Authority for meeting its expenses in relation to or in connection with the efficient discharge of its functions under the Act.(2)The Authority shall evolve suitable mechanism of internal accounting and budgeting including classification of receipts and expenditure in respect of the fund.(3)[ The Authority shall maintain a separate Escrow account to which all earnings, including royalties, concession fees, license fees and profits out of Authoritys Projects shall be credited and thereafter shall be passed in full after retaining such percentage of earning which the Authority may decide as per the annual budgetary process, on to the Central Government as per the procedure to be laid down in the regulations.(4)Retention of earning by Authority shall be subject to three year review by Central Government.] [Inserted by Notification No. G.S.R. 32(E), dated 13.1.2020.]
