(1) The Central Government shall establish on the recommendations of the Board a Fund to be called the Insolvency and Bankruptcy Fund for such purposes, in such manner and subject to such conditions as may be prescribed.
(2) There shall be credited to the Fund—
- the grants made by the Central Government for the purposes of the Fund;
- the amount deposited by persons as a percentage of the amounts realised by them in the insolvency, liquidation or bankruptcy proceedings under this Code;
- the interest or other income received out of the investment made from the Fund; and
- such other monies received by it.