Section 18 in The Goa Information Technology Development Act, 2007
18. Corporation's fund.
(1)The Corporation shall have and maintain its own fund, to which shall be credited,-(a)all monies received by the Corporation by way of grants, subventions, loans, advances or otherwise;(b)all fees, costs and charges received by the Corporation under this Act;(c)all monies received by the Corporation from the disposal of lands, buildings and other properties, movable and immovable, and other transactions;(d)all monies received by the Corporation by way of rents and profits, or in any other manner or from any other source including the proceeds of any loan authorised by section 20.(2)The Corporation may keep in current or in deposit account with the State Bank of India or any other Bank approved by the Government in this behalf such sum of money out of its fund as may be prescribed and any money in excess of the said sum shall be invested in such manner as may be approved by the Government.(3)Such accounts shall be operated upon by such officers of the Corporation as may be authorised by it by regulations made in this behalf.
