(1)

The Fund referred to in sub-section (1) of section 3 shall vest in, and be administered by, the Board constituted under section 5.

(2)

The moneys in the Fund shall be applied for-

(a) meeting the pay and allowances of the employees of the Board and other administrative expenses of the Board;

(b) carrying out the purposes of this Act.

(3)

All moneys in the Fund shall be deposited in 1[an approved bank] or be invested in such securities as may be approved by the Government.