Section 17 in The U.P. Forests Corporation Act, 1974
17. Fund of the Corporation.
(1)The Corporation shall have its own fund which shall be a local fund and to which shall be credited all moneys received by or on behalf of the Corporation.(2)The fund shall be applied towards meeting expenses incurred by the Corporation in the discharge of its functions under this Act and for no other purpose.(3)The money of the fund shall be kept in the State Bank of India or in the Uttar Pradesh Co-operative Bank or in any Scheduled Bank :Provided that nothing in this sub-section shall be deemed to preclude the Corporation from retaining such balances in cash as may be necessary for current payment or from investing any portion of the fund not required for immediate expenditure in any of the securities described in Section 20 of the Indian Trusts Act, 1882.
