(1) There shall be constituted a Fund to be called the Securities and Exchange Board of India General Fund and there shall be credited thereto –
(a) all grants, fees and charges received by the Board under this Act;
(aa) all sums realized by way of penalties under this Act; and
(b) all sums received by the Board from such other sources as may be decided upon by the Central Government.
(2) The Fund shall be applied for meeting –
(a) the salaries, allowances and other remuneration of the members, officers and other employees of the Board;
(b) the expenses of the Board in the discharge of its functions under section 11;
(c) the expenses on objects and for purposes authorized by this Act.