Amendment status not verified — confirm the current text below against the official source.
Borrowing and investment.- (1) The trustee committee may, with the prior approval of the State Government and the Bar Council, borrow from time to time any sum required for carrying out the purposes of this Act. (2) The trustee committee shall deposit all moneys and receipts forming part of the Fund in any scheduled bank or invest the same in loans to any corporation owned or controlled by the Central Government or the State Government or in loans floated by the Central Government or the State Government or in any other manner as the Bar Council may, from time to time direct with the prior approval of the State Government. (3) All amounts due and payable under this Act and all expenditure relating to the management and administration of the Fund 1[and all expenditure relating to supply of Welfare Fund stamps]1 shall be paid out of the Fund.