Section 34: Establishment and management of the Fund

(1) There is established for the Council a Maritime Labour Welfare Disengagement Fund (in this Act referred to as "the Fund") into which shall be paid and credited-
(a) 2 per cent of dock workers' and seafarers' earnings which shall be deducted at source by their employers; and
(b) contributions from all organisations represented in the Board as the Minister may determine from time to time.
(2) The Board shall setup a Maritime Labour Welfare and Disengagement Committee (in this Act referred to as "the Management Committee") to manage the Fund.
(3) The management Committee shall, subject to the approval of the Board, apply the funds towards the following objectives-
(a) the general welfare of casual dock workers and seafarers;
(b) payment of disengagement benefits to casual dock workers and seafarers ;
(c) the training of casual dock workers and seafarers and for that purpose to establish training centers ;
(d) cost of administration of the Fund; and
(e) any other matter, which the Board may direct.
(4) The Committee set up in sub-section (2) of this section shall exercise such power as may be delegated to it by the Board pursuant to the directive of the Minister for the effective management of the Fund in accordance with the objectives of this Act.