Fund administration rules govern Central Board accounts, deposits, investments, authorised operation, and restricted use for member payments. Administration of funds vested in the Central Board is to follow Central Government guidelines, with power to open necessary accounts for efficient scheme administration. Fund moneys are to be deposited in approved banks or invested as specified by the Central Government, and any investment expenses or losses are to be charged to the funds. The funds, other than the administration account, may be used only for payments to members, nominees, heirs, or legal representatives, and are to be operated by authorised officers.
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Fund administration rules govern Central Board accounts, deposits, investments, authorised operation, and restricted use for member payments.
Administration of funds vested in the Central Board is to follow Central Government guidelines, with power to open necessary accounts for efficient scheme administration. Fund moneys are to be deposited in approved banks or invested as specified by the Central Government, and any investment expenses or losses are to be charged to the funds. The funds, other than the administration account, may be used only for payments to members, nominees, heirs, or legal representatives, and are to be operated by authorised officers.
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