Amendment status not verified — confirm the current text below against the official source.
(1) AII moneys ,received by a Samiti shall Panchayat Samiti Fund constitute a fund called the "Paachayat Samiti Fund". The Fund shall vest in the Samiti and shall be applied for the purposes specEed in this Act and for such other purposes and in such manner as may be pres- cribed. ¶[(2) The Block Development Officer shall, subject to the control of the Government, remain in charge of the Paachayat Samiti Fund and shall subject to such rules as may -be prescribed administer the same in ,awordafi&. with .the decisiod of the Samiti. (3) All moneys received by the Samiti shall be lodged in the nearest. Government Treasury or with the sanction of the Government in any Bank approved by them.]