Section 19 in The Oil And Natural Gas Commission Act, 1959
19. Fund of the Commission.
(1)Fund of the Commission. The Commission shall have its own Fund and all receipts of the Commission, whether from grants made by the Central Government or otherwise, shall be carried thereto and all payments by the Commission made therefrom.(2)The Commission may expend such sums as it thinks fit for performing its functions under this Act and such sums shall be treated as expenditure payable out of the Fund.(3)All monies of the Commission shall be deposited in the Reserve Bank of India or with the agents of that Bank [or in a corresponding new bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 or in such other bank as may be prescribed, or] [Substituted by Act 23 of 1977, Section 4, for certain words] in a Government Treasury, or be invested in such securities as may be approved by the Central Government.
