(1) The Board shall have its own Fund and the following moneys shall be credited thereto :–
(a) fees, royalties and charges (including prescribed penalties) levied by it;
(b) grants, assignments, contributions and loans if any, given to it by the State Government ;
Appointment, powers and duties of Secretary, Joint and Assistant Secretaries of the Board.
Other officers and servants of the Board.
Salaries and allowances and other conditions of service of Secretary, Joint and Assistant Secretaries and of officers and servants of Board.
Board’s Fund, its custody and investment.
1973 : Guj. 18] Gujarat Secondary and Higher Secondary Education Act, 1972 13
(c) bequests, donations and endowments or other contributions, if any, given to it;
(d) interest on, and sale proceeds of securities vested in it;
(e) all rents and profits from the property vested in it;
(f) other moneys received by it or on behalf of it.
(2) The Fund shall be kept in any Scheduled Bank as difined in the Reserve Bank of India Act, 1934, in the Postal Savings Bank or in a Co-operative bank approved by the State Government under section 35 of the Bombay Public Trusts Act, 1950 or at the discretion of the Board be invested in public securites authorised by the Indian Trusts Act, 1882.
24. The Board shall pay every year out of its own Fund to the State Government such amount as the State Govenment may determine on account of the salary or honorarium, pension, leave and other allowances of the Chairman, Deputy Chairman, Secretary, Joint Secretaries and Assistant Secretaries and other officers and staff of the Board.
25. The State Government may, after due appropriation made by the State Legislature by law in this behalf, make such grants to the Board as the State Government may deem necessary for enabling the Board to discharge its functions under this Act.