Section 13 in Telangana State District Mineral Foundation (Trust) Rules, 2015
13. Constitution of Trust Fund.
- The Trust shall have powers to open and operate bank accounts in its own name at any scheduled bank as specified in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934).13.1The resources for Trust Fund shall include -13.1.1Contributions from the holders of a mining lease or a prospecting license-cum-mining lease, under the provisions of sub-section (5) of section 9B of the Act, 2015 for an amount equivalent to 10 percent of royalty payable in terms of the Second Schedule or as may be prescribed by the Central Government from time to time.13.1.2Contributions from the holders of a mining lease under the provisions of sub-section (6) of section 9B of the Act, 2015 for an amount equivalent to 30 percent of royalty payable in terms of the Second Schedule or as may be prescribed by the Central Government from time to time.13.1.3Contributions from the holders of minor mineral concession under the provisions of Section 15A (4) of the Act shall be an amount equivalent to 30 percent on seigniorage fee for the leases granted prior to the commencement of the District Mineral Foundation.13.1.4Contributions from the holders of minor mineral concession under the provisions of Section 15A (4) of the Act for the leases granted after the commencement of the District Mineral Foundation shall be:13.1.4.1An amount equivalent to 30 percent on seigniorage fee for the leases granted through processing of Mineral Concession Applications.13.1.4.2An amount equivalent to 10 percent on seigniorage fee for the leases granted through auction.13.1.4.3An amount equivalent to 10 percent on seigniorage fee shall be recovered by the Government Engineering/Consuming Departments alongwith seigniorage fee from contractor bills on the quantity of minor minerals consumed in the construction and remitted to DMF account.13.1.5Any interests accrued to the bank accounts of the Trust Fund.13.2The Government may give financial assistance to any such Trust by way of loan, capital grants or other payments.13.3Any contributions by others.
