Section 22: Fund of Board

1) The Board shall have a separate fund of its own.

(2) The following amounts shall be credited to the fund as referred to in sub-section (1):-

(a) Amounts received from the Government of Nepal,

(b) Amounts obtained as grants, assistance or loans from any native, foreign or international organisations, institutions or bodies,

Provided that prior approval of the Government of Nepal shall be obtained in receiving such grants, assistance or loans.

(c) Amounts received by way of the license fees,

(d) Amounts received by way of the fees for registration of securities,

(e) Amounts received by way of the fees, charges, dues for transactions in securities,

(f) Amounts received by way of fines imposed by the Board,

(g) Amounts received from any other sources.

3) All amounts to be obtained to the fund of the Board pursuant to sub-section (1) shall be credited to an account to be opened with any commercial bank within Nepal.

4) All the expenditures to be made on behalf of the Board shall be chargeable on the fund as referred to in Sub-section (1).

5) In making expenditures pursuant to sub-section (4), such expenditures shall be made subject to the budget approved by the Board for the incomes and expenditures to be made in each fiscal year.

6) The operation of the fund of the Board shall be as prescribed.