Amendment status not verified — confirm the current text below against the official source.
(1) The Institute shall have its own funds consisting of— (a) all moneys provided by the Trust; (b) all fees and other charges received by the Institute; (c) all moneys received by the Institute by way of grants, loans, gifts, donations, benefactions, bequests or transfers; PART III] THE KOLKATA GAZETTE, EXTRAORDINARY, JANUARY 1, 2009 11 The Dhirubhai Ambani Institute of Information and Communication Technology Act, 2008. (Sections 25-28.) Accounts and audit. Pension and provident fund scheme. Acts and proceedings not to be invalidated by vacancies. Conferment of degrees, diplomas and grant of certificates by the Institute. (d) all moneys received by the Institute from the collaborating Industry in terms of the provisions of the Memorandum of Understanding between the Institute and the Industry, for establishment of sponsored chairs, fellowships and infrastructure facilities to the Institute; (e) all moneys received by the Institute in any other manner or from any other source. (2) All funds of the Institute shall be deposited in such banks or invested in such manner as the Board may decide on recommendation of the Finance Committee. (3) The funds of the Institute shall be applied towards the expenses of the Institute including expenses incurred in the exercise of its powers and discharge of its functions.