Board Fund establishment secures dedicated financing for board operations and authorised statutory functions and administrative expenses. A Fund called the Fund of the Insolvency and Bankruptcy Board is constituted and credited with grants, fees and charges under the Code, sums from other sources as decided by the Central Government, and other funds specified or prescribed; it is applied to meet salaries, allowances and remuneration of members and staff, expenses in discharge of the Board's functions under section 196, expenses on objects and purposes authorised by the Code, and other prescribed purposes.