Section 14 in The Securities And Exchange Board Of India Act, 1992

14. Fund.

(1) There shall be constituted a Fund to be called the Securities and Exchange Board of India General Fund and there shall be credited thereto--

(a) all grants, fees and charges received by the Board under this Act; 3[

(aa) 4[ all sums realised by way of penalties under this Act; and

(b) all sums received by the Board from such other sources as may be decided upon 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 11;

1. Subs. by Act 9 of 1995, s. 7 (w. e. f. 25- 1- 1995 ). 2. Ins. by s. 7, ibid. (w. e. f. 25- 1- 1995 ). 3. Omitted by s. 8, ibid. (w. e. f. 25- 1- 1995 ). 4. Ins. by s. 8, ibid. (w. e. f. 25- 1- 1995 ).