(1)

On and from the commencement of the Indian Telegraph (Amendment) Act, 2003, there shall be deemed to have been established, for the purposes of this Act, a Fund to be called the Universal Service Obligation Fund.

(2)

The Fund shall be under the control of the Central Government and there shall be credited thereto

(a) any sums of money paid under section 9-B;

(b) any grants and loans made by the Central Government under section 9-C.

(3)

The balance to the credit of the Fund shall not lapse at the end of the financial year.