(1)

There shall be constituted a Fund to be called the Betwa River Board Fund and there shall be credited thereto the sums paid to the Board by the Governments of Madhya Pradesh and Uttar Pradesh and all other sums received by the Board.

(2)

The Fund shall be applied-

(a) for meeting the salaries, allowances and other remuneration of the officers and other employees of the Board and other administrative expenses of the Board;

(b) for meeting the expenditure on surveys and investigations undertaken by the Board;

(c) for meeting the cost of construction of the [Rajghat Dam, the Rajghat Power House and appurtenant works] [Substituted by Act 47 of 1977, Section 7, for "Rajghat Dam and appurtenant works ". ];

(d) for meeting the other expenses of the Board in the discharge of its functions under this Act.