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Bare acts > Land Ports Authority of India Act, 2010 > Section 21
 
 
   

21. Fund of Authority and its investment. - (1) The Authority shall establish its own fund and all receipts of the Authority shall be credited thereto and all payments by the Authority shall be made therefrom.


(2) The Authority shall have the power, subject to the provisions of this Act, to spend such sums as it thinks fit to cover all administrative expenses of the Authority or for purposes authorised by this Act and such sums shall be treated as expenditure out of the fund of the Authority.


(3) All moneys standing at the credit of the Authority which cannot immediately be applied as provided in sub-section (2), shall be--


(a) deposited in the State Bank of India or any such scheduled bank or banks or other public financial institutions subject to such conditions as may, from time to time, be specified by the Central Government;


(b) invested in the securities of the Central Government or in such manner as may be prescribed.


Explanation.—In this sub-section, "scheduled bank" has the same meaning as in clause (e) of section 2 of the Reserve Bank of India Act, 1934.

 

 
 

 

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6. Vacation of office of members. - The Central Government shall remove a member if, he--


(a) becomes subject to any of the disqualifications mentioned in section 4:


Provided that no member shall be removed on the ground that he has become subject to the disqualification mentioned in clause (e) of that section, unless he has been given a reasonable opportunity of being heard in the matter; or


(b) refuses to act or becomes incapable of acting; or


(c) is, without obtaining leave of absence from the Authority, absent from three consecutive meetings of the Authority; or


(d) in the opinion of the Central Government, has so abused his position as to render his continuance in office detrimental to the public interest:


Provided that no member shall be removed under this clause unless he has been given a reasonable opportunity of being heard in the matter.

 
 
 
 
 

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