Section 17 in The Punjab Ex-servicemen Corporation Act, 1978
17. Ex-Servicemen Corporation Fund.
(1)The Corporation shall maintain a Fund called the Ex-servicemen Corporation Fund (hereinafter referred to as the Fund) to which shall be credited-(a)all moneys received by it from the Government or from any person or association of persons interested in or dealing with the welfare of ex- servicemen;(b)such sums of money as may, from time to time, be realized by way of repayment of loans made from the Fund or from interest on loans;(c)all moneys received of it from any other source;(d)all moneys borrowed under section 16; and(2)The moneys in the Fund shall be applied by the Corporation for carrying out its functions under this Act.(3)All moneys in the Fund shall be deposited in a Bank for the time being included in the Second Schedule to the Reserve Bank of India Act, 1934, or in a Government Treasury, as may be decided by the Corporation;Provided that the Corporation may invest or deposit its surplus funds in the Government securities or in such other manner at it may decide.
