(1)All sums received by or on behalf of the Association, the Board or the Committee shall be paid into a fund to be called the Sports Fund.(2)In particular and without prejudice to the generality of the provisions of sub-section (1), there shall be credited to the Sports Fund,-(a)all moneys received by way of donations from the public;(b)membership fees of the Association;(c)admission fees for sports and matches;(d)loans raised by the Board under sub-section (4) of section 5;(e)donations and advances from the State Government;(f)receipts from any other source.(3)The Sports Fund shall become vested in and be under the control of the Board and shall be held in trust for the purposes of this Act. The moneys in the Sports Fund may be invested by the Board in such manner as may be prescribed.(4)All moneys credited to the Sports Fund shall be received by the Secretary of the Board and shall forthwith be paid into the State Bank of India to the credit of an account to be called the Sports Fund Account.(5)Expenses incurred by the Association, the Board and the Committee in carrying out their functions under this Act shall be met out of the Sports Fund and the Board may, from time to time, advance to the Association or the Committee such amounts as may be necessary to enable the Association or the Committee, as the case may be, to carry out its functions.
