# The Inland Vessels Act, 2021, Section 86: Constitution of Development Fund

- Act: The Inland Vessels Act, 2021 (Act 24 of 2021)
- Ministry: Ministry of Ports, Shipping and Waterways
- Source URL: https://indiacode.ecourtsindia.com/inland-vessels-act-2021/section/86/

## Text

(1)There shall be a Fund constituted by the State Government to be called the Development Fund, to be utilised for— (a) meeting emergency preparedness; (b) meeting containment of pollution caused by discharge of oil, mixtures, obnoxious substances, chemicals and other noxious and harmful substances, to preserve and protect inland waters; (c) supporting, part or whole of expenses of owners or economically backward sector involved in activities of trade and living depending solely on inland waters; (d) removal of unidentified wreck or obstruction affecting and impeding navigation; and (e) boosting up development works of inland water navigation with respect to safety and convenience of conveyance. (2) For the purposes of constitution of the Development Fund under sub-section (1), endeavour shall be made to design schemes of contribution from— (a) the State Government; (b) stake holders; (c) the amount collected from sale of wreck or cargo or remains thereof after deducting the expenses incurred; (d) excess fund out of judicial sale of vessels or any property or cargo after meeting the expenses incurred or set-off against the court to meet damages or functioning of the court or administrative machinery; and (e) part or proportionate disbursement of fees collected by the respective State Government as provided in this Chapter.

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