Objective

The Tourism Employees Welfare Fund has been set up under the the Tourism Employees Welfare Fund Act 2002 to provide for the social and economic welfare of employees of tourism enterprises and their families.

Therefore, the objects of the Fund shall be to set up schemes and projects and, generally, to carry out such other activities as may be considered desirable for promoting the welfare of employees of tourism enterprises and their families.

Functions of the Tourism Employees Welfare Fund Board

The Board may –

(a) carry out such activities and do all such acts and things as appear requisite and advantageous for the furtherance of the objects of the Fund;

(b) grant loans from the Fund to employees for such purposes and on such terms and conditions as it may determine;

(c) without prejudice to the generality of paragraph (a), invest any surplus remaining in the fund in such manner as the Board may determine;

(d) acquire, purchase, take on lease, hire, hold, enjoy movable and immovable property of every description and mortgage, transfer or otherwise dispose of, or deal in any movable or immovable property belonging to the Fund upon such terms as the Board may think fit;

(e) receive payment in consideration of the services provided by the Fund;

(f) take, or otherwise acquire and hold shares, debentures or other security in any company.