COAL MINES DEPOSIT LINKED INSURANCE SCHEME

13. Deposit Linked Insurance Fund Account :

The amount received as the employer's contribution and alsd the Central Government's contribution to the Insurance Fund under sub-sections (2) and (3) of section 3G shall be credited to an account called the "Deposit Linked Insurance Fund Account" and all expenses towards the cost of any benefits provided by or under the Scheme shall be met out of this Account.

1"14. Investment of Mines belonging to Insurance Fund :

(1) All Moneys belonging to or standing to the credit of the Insurance Fund except as may be required for meeting claims in respect of Deposit Linked Insurance benefit under the Scheme shall be kept in deposit with the Central Government in the Public Account.

(2) The Central Government shall pay interest at a rate not less than 7 per cent per annum".

15. Interest :

All interest, rent and other income realised and net profits or losses, if any, from the sale or investments not including therein the transaction of the Insurance Fund Central Administration Account, shall be credited or debited as the case may be to the Insurance Fund.

16. Disposal of the Insurance Fund :

(1) Subject to the provisions of the Act and of this Scheme, the Insurance Fund shall not, except with the previous sanction of the Board, be expended for any purpose other than the payment of the benefits in accordance with the provisions ot this Scheme.

(2) The Insurance Fund shall be operated upon by such officers as may be authorised in this behalf by the Board.

17. Expenses of Administration :

All expenses relating to the administration of this Scheme shall be met from the 'Insurance Fund Central Administration Account'.

18. Forms of Accounts :

The accounts of the Insurance Fund, including the Insurance Fund Central Administration Account shall be maintained by the Commissioner in such form and in such manner as may be specified by the Board.
1. Substituted vide G.S.R. No. 12J8 dated 22,11.84 (deemed to have come into force with effect from the 1st day of April, 1984).

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