222.Board’s Fund. 222. ( 1 ) There shall be constituted a Fund to be called the Fund of the Insolvency and Bankruptcy Board and there shall be credited thereto— ( a ) all grants, fees and charges received by the Board under this Code; ( b ) all sums received by the Board from such other sources as may be decided upon by the Central Government; ( c ) such other funds as may be specified by the Board or prescribed 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 196; ( c ) the expenses on objects and for purposes authorised by this Code; ( d ) such other purposes as may be prescribed.
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