Section 20. Fund of the Board.

(1) The Board shall have its own fund, and the following moneys shall be credited thereto–– (a) amounts placed at its disposal, from time to time, by the Government by way of grants ; (b) the fees and other charges leviable under this Act ; and (c) the other money received by or on behalf of it. (2) The fund, except permanent advance as may be authorised by the Board to meet petty expenditure, shall be kept in the Jammu and Kashmir Bank or at the discretion of the Board, be invested in securities authorised by the Government. (3) The funds of the Board shall be utilised only for the payment of charges and expenses authorised by or under this Act or for carrying out any of the purposes of this Act and shall be operated in such manner as may be prescribed.