Section 23: The Fund

23. The Fund.—(1) There is hereby established, for the purposes of this Act, a Fund to be administered and controlled by the Commission. (2) The Fund shall consist of— (a) such sums as the Federal Government may from time to time, grant; (b) grants of money and sums borrowed or raised by the Commission for the purposes of meeting any of its obligations or discharging any of its duties; 1[(c) taxes, fees, penalties or other charges levied under this Act, the Ordinance, the Securities and Exchange Ordinance, 1969 (XVII of 1969), the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 (XXXI of 1980), and Under any other law for the time being administered by the Commission;] 2[*] (d) all other sums or property which may in any manner become payable to or vested in the Commission in respect of any matter incidental to the exercise of its functions and powers 2[; and] 2[(e) any other sources as may be notified by the Federal Government.] (3) It shall be the duty of the Commission to conserve the Fund by performing its functions and exercising its powers under this Act 2[or any administered legislation] so as to ensure that the total revenues of the Commission are sufficient to meet all sums properly chargeable to its revenue account.

Effective date: 1997-01-01

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