(1)There shall be a Fund constituted by the State Government to be called the Development Fund, to be utilised for-(a)meeting emergency preparedness;(b)meeting containment of pollution caused by discharge of oil, mixtures, obnoxious substances, chemicals and other noxious and harmful substances, to preserve and protect inland waters;(c)supporting, part or whole of expenses of owners or economically backward sector involved in activities of trade and living depending solely on inland waters;(d)removal of unidentified wreck or obstruction affecting and impeding navigation; and(e)boosting up development works of inland water navigation with respect to safety and convenience of conveyance.(2)For the purposes of constitution of the Development Fund under sub-section (1), endeavour shall be made to design schemes of contribution from-(a)the State Government;(b)stake holders;(c)the amount collected from sale of wreck or cargo or remains thereof after deducting the expenses incurred;(d)excess fund out of judicial sale of vessels or any property or cargo after meeting the expenses incurred or set-off against the court to meet damages or functioning of the court or administrative machinery; and(e)part or proportionate disbursement of fees collected by the respective State Government as provided in this Chapter.
