(1) The amount available under the Trust Fund for empowerment of persons with d isabilities and the Nat ional Fund for people with d isabilities, as on the date of the commencement of the Act, shall form the National Fund.
(2) All monies available under the two Funds referred to in sub-rule (1) shall stand transferred to the National Fund.
(3) All monies belonging to the Fund shall be deposited in such banks or invested in such manner as the governing body, may, subject to the general guidelines of the Central Government, decide.
(4) The Fund shall be invested in such manner as may be decided by the governing body.
(5) The Fund shall be utilized for the following purposes, namely:- (a ) financial assistance in the areas which are not specifically covered under any scheme and programme of the Central Government or are not adequately funded under any scheme or programme of the Central Government;
(b) for the purpose of implementation of the provisions of the Act;
(c ) administrative and other expenses of the Fund, as may be required to be incurred by or under this Act; and
(d) such other purposes as may be decided by the governing body.
(6) Every proposal of expenditure shall be placed before the governing body for its approval.
(7) The governing body may appoint secretarial staff including accountants, with such terms and conditions, as it may think appropriate, to look after the management and utilisation of the Fund.