Amendment status not verified — confirm the current text below against the official source.
(1) The Institute shall establish and maintain a Institute Fund to which be credited,- (i) all moneys received from the State Government, Central Government and Government agencies; (ii) all fees and other charges received by the Institute; (iii) all moneys received by the Institute by way of gifts, donations, benefactions, bequests or transfers; and (iv) all moneys received by the Institute in any other manner or from any other source. (2) The Institute may create special purpose fund with the approval of the Board. (3) All moneys credited to the fund shall be deposited in Scheduled banks or invested in such securities as may be decided by the Board. (4) The funds shall be applied towards meeting capital and revenue expenses of the Institute incurred in exercise of powers and discharge of duties of the Institute in the manner, as may be prescribed by the Statutes.