Amendment status not verified — confirm the current text below against the official source.
(1) The fund of the Council shall consists of- (a) registration fees; (b) grants received from the Government, if any; (c) all fee received, all income such as rent and profits derived from properties and funds vested in the Council, all grants and loss received, if any, from the Government, all endowments and donations received from any source, all other miscellaneous receipts and all remittances received in connection with the affairs of the Council. (2) The Fund shall be deposited in a Scheduled Bank as defined in the Reserve Bank of India Act, 1934 (Central Act 2 of 1934), as may be decided by the Executive Committee. (3) It shall be competent for the Council to incur expenditure for the following purposes, namely:- (a) salaries and allowances of the Registrar and the staff maintained by the Council; (b) fees and allowances paid to the members of the Council and the Executive Committee; (c) such other expenses, as are necessary for performing duties and discharging the functions under this Act. Fund.