Section 19 in Gujarat Industrial Development Act, 1962
19. Corporation's funds.
(1)The Corporation shall have and maintain its own funds, to which shall be credited-(a)all moneys received by the Corporation from the State Government by way of grants, subventions, loans, advances or otherwise;(b)all fees, costs and charges received by the Corporation under this Act;(c)all moneys received by the Corporation from the disposal of lands, buildings and other properties, movable and immovable and other transactions;(d)all moneys received by the Corporation by way of rents and profits or in any other manner or from any other source.(2)The Corporation may keep in current or deposit account with the State Bank of India or any other Bank approved by the State 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 State Government.(3)Such account shall be operated upon by such officers of the Corporation as may be authorised by regulations.
