Amendment status not verified — confirm the current text below against the official source.
(1) A fund of the Council, to be known as the Agricultural Education Development Fund, shall be created by one time grant provided by the Government. (2) All receipts of the Council shall be credited into the fund. (3) All expenditure incurred by the Council shall be defrayed out of the fund, which shall be operated in such manner, as may be prescribed. (4) All moneys lying in the credit of the fund, shall be kept in any Scheduled Bank as defined in the Reserve Bank of India Act, 1934 (Act 2 of 1934) or the same may also be invested in securities of Central Government, State Government or a Public Sector Undertaking. (5) The fund shall be utilized for payment of charges and expenses authorised by or under this Act or for carrying out the purposes of this Act.