(1) There shall be constituted a Fund to be called the Bureau of Indian Standards Fund and there shall be credited thereto-

(a) any grants and loans made to the Bureau by the Central Government under section 17;

(b) all fees and charges received by the Bureau under this Act;

(c) all sums received by the Bureau from such other sources as may be decided upon by the Central Government.

(2) The Fund shall be applied for meeting-

(a) the salary, allowances and other remuneration of the members, Director-General, officers and other employees of the Bureau;

(b) expenses of the Bureau in the discharge of its functions under section 10;

(c) expenses on objects and for purposes authorised by this Act.