Section 222 in Insolvency And Bankruptcy Code, 2016
222. Board's Fund.
(1)There shall be constituted a Fund to be called the Fund of the Insolvency and Bankruptcy Board and there shall be credited thereto-(a)all grants, fees and charges received by the Board under this Code;(b)all sums received by the Board from such other sources as may be decided upon by the Central Government;(c)such other funds as may be specified by the Board or prescribed by the Central Government.(2)The Fund shall be applied for meeting-(a)the salaries, allowances and other remuneration of the members, officers and other employees of the Board;(b)the expenses of the Board in the discharge of its functions under section 196;(c)the expenses on objects and for purposes authorised by this Code;(d)such other purposes as may be prescribed.
