Amendment status not verified — confirm the current text below against the official source.
Funds of the Parishad - (1) The Parishad shall have its own funds consisting of:- (a) grants from the State Government and Central Government; (b) all monies received by or on behalf of the Parishad under the provisions of this Act or any other law for the time being in force, or under any other contract; (c) all proceeds of the disposals of the property by or on behalf of the Parishad; (d) all monies received by or on behalf of the Parishad from public bodies, private bodies or private individuals by way of grants, gifts or deposits; (e) all interests and profits arising from any investment or from any transaction in connection with any money belonging to the Parishad. (2) All monies belonging to the Parishad shall be deposited in such banks or invested in such manner, as the governing council may decide. (3) The Parishad may spend such sums as it may deem fit for performing its functions under this Act and such sums shall be treated as expenditure payable out of the fund. CHAPTER-III MISCELLANEOUS