Amendment status not verified — confirm the current text below against the official source.
(1) There shall be a Fand for the University to be called the University Fund. The Fund shall include— (a) any contribution or grant made by the State Government; (b) any contribution or grant made by the University Grants Commission or the Central Government; (c) any contribution made by the Medical Council of India; (d) any contribution made by any State Medical Council; (e) any bequests, donations, endowments or other grants made by private individuals and trusts, public or private; (f) income received by the University from fees and charges; and (g) amounts received from any other source. (2) The amount in the said. Fund shall be kept in a Scheduled Bank as defined in the Reserve Bank of India Act, 1934, or in a corresponding new bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, or the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980, or may be invested in such securities authorised by the Indian Trusts Act, 1882, as may be decided by the Executive Council. (3)- The said Fund may be employed for such purposes of the University, and in such manner, as may be prescribed by regulations. - 40. (1) The Annual Accounts of the University shall be prepared udder the directions of the Executive Council. (2) The accounts of the University shall, at least once in a year, be audited by the auditors appointed by the Executive Council: Provided that the State Government shall have the power to direct, whenever considered necessary, an audit of the accounts of the University, including the institutions managed by it, by such auditors as the State Government may specify. Provident fund, gratuity and pension schemes. Funds of the University. Annual accounts and audit. 2 of 1934. 5 of 1970. 40 of 1980. 2 of 1882. 28 THE KOLKATA GAZETTE, EXTRAORDINARY, AUGUST 1. 2002 [PART III The West Bengal University of Health Sciences Act, 2002. (Sections 41-45.) Budget. Annual Report. Contracts. Eligibility for admission of students. Discipline. (3) The Accounts when audited shall be published by the Executive Council. and a copy of the accounts together with the audit report shall be placed before the Executive Council and shall also be submitted to the State Government. (4) The annual accounts shall be considered by the General Council at its annual meeting. The General Council may pass resolutions with reference thereto and communicate the same to the Executive Council. The Executive Council shall consider the suggestions made by the General Council and take such action thereon as it thinks fit. The Executive Council shall inform the General Council at its next meeting all actions taken by it or the reasons for not taking action.