Section 9 in The Technology Development Board Act, 1995
9. Fund for Technology Development and Application. -
(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 object 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.
