law: 4. Vesting of Fund, etc.-
  (1) The Fund referred to in sub-section (1) of section 3 shall vest in, and be administered by, the Board constituted under section 5.
  (2) The moneys in the Fund shall be applied for-
  (a) meeting the pay and allowances of the employees of the Board and other administrative expenses of the Board;
  (b) carrying out the purposes of this Act.
  (3) All moneys in the Fund shall be deposited in 1[an approved bank] or be invested in such securities as may be approved by the Government.
  2[Explanation.-In this section, "approved bank" means the State Bank of India constituted under section 3 of the State Bank of India Act, 1955 (23 of 1955), or a subsidiary bank as defined in clause (k) of section 2 of the State Bank of India (Subsidiary Banks) Act,1959 (38 of 1959), or a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), or a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980).]