Amendment status not verified — confirm the current text below against the official source.
Fund of Council.-(1) The Council shall have its own Fund and all sums which may, from time to time, be paid to it by the Government and all the receipts of the Council (including any sum which the Central Government, the University Grants Commission or any other authority or person may hand over to the Council) shall be credited to such Fund. (2) The Government may pay to the Council in each financial year such sums as may be considered necessary for the functioning of the Council; (3) All expenditure incurred by the Council under or for the purposes of this Act shall be defrayed from out of the said Fund. Appropriate provisions of the Bihar Financial Rules shall be applicable to all expenses incurred from this fund.