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4. Application of Fund.- (1) The Fund shall be applied by the Central Government,-

(a) for making loans for facilitating the rehabilitation and modernisation of any sugar factory or any unit thereof or the undertaking of any scheme for development of sugarcane in the area in which any sugar factory is situated;

(b) for making grants for the purpose of any research project aimed at development of sugar industry;

(bb) for defraying expenditure for the purpose of building up and maintenance of buffer stocks of sugar with a view to stabilising price of sugar;

(c) for defraying any other expenditure for the purposes of this Act.

(2) The manner in which any loans or grants may be made under this section and the terms and conditions subject to which such loans or grants may be made shall be such as may be prescribed.

  
  
  
  
 

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