Amendment status not verified — confirm the current text below against the official source.
(1) The Board shall have a fund to be called the Tripura Secondary Education Board Fund to which shall be credited-- (a) all sums which may be paid by the State Government under section 19; Government grants to the Board. Funds of the Board and the use therof. 19 (b) all fees realised under any of the provisions of this Act ; (c) all sums representing income from endowments or prop- erty owned or managed by the Board ; and (d) all other sums received by or on behalf of the Board from any other source whatsoever. (2) The Fund shall vest in the Board and shall be held by it trust for the purpose of this Act. (3) All moneys payable to the credit of the Fund shall forthwith be paid into the State Bank of India to the credit of the Fund, and all cheques drawn on the Fund shall be signed by the President or by such other person as he may authorise in this behalf. (4) The Board shall keep an account of all its receipts and expendi- ture in the manner prescribed. (5) No expenditure shall be incurred from the Fund except for the purposes of this Act and unless such expenditure is provided for in the budget approved under this Act or can be met by reappropriation in the prescribed manner.