Amendment status not verified — confirm the current text below against the official source.
(1) The Council shall establish a fund to be called the fund of the Council and the custody of such Fund, the payment of money thereto, the withdrawal of money therefrom and all other ancillary matters shall be governed by such rules as may be prescribed by the State Government. (2) The following shall form part of, or be paid into, the fund of the Council— (a) any contribution or grant by Central or State Government; (b) income from fees and fines, rent and all other income of the Council and profits derived from properties and deposits vested in the Council; (c) donations, endowment and other grants, if any received from any source whatsoever; (d) all other miscellaneous receipts of the Council and all remittances received in connection with the affairs of the Council. (3) All money belonging to the fund shall be deposited in such banks or invested in such manner as may be prescribed by the rules made under this Act. (4) All fund of the Council shall be applicable to the following objects, namely:— (a) repayments of debts incurred by the Council for the purposes of proper implementation of the relevant provisions of this Act and the rules made thereunder; (b) the expenses of any suit or legal proceedings to which the Council is a party; (c) payment of salaries and allowances to the officers and servants of the Council; (d) payment of allowances to the office bearers of the Council; (e) payment of any expenses incurred by the Council in carrying out the provisions of this Act and the rules, regulations and orders made thereunder; (f) any other expenses incurred for the promotion and development of Para- Medical education, research and training, declared by the Council to be in the general interest of Para-Medical and Education Council profession.