Amendment status not verified — confirm the current text below against the official source.
(1) The Director of the Institute shall maintain a Fund to Fund of the which shall be credited- (a) All money provided by the State Government; (b) All fees and other charges received by the Institute; (c) All money received by the Institute by way of grants, gifts, donations, benefactions, bequests, or transfers; and (d) All money received by the Institute in any other manner or from any other source. (2) All money credited to the Fund shall be deposited in such banks or invested in such manner as the Institute may, with the approval of the Executive Council, decide. (3) The fund shall be applied towards meeting the expenses of the Institute including expenses incurred in the exercise of its powers and discharge of its functions under section 16. Budget of the Institute.