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Section 22: Fund of the Institute.

The Institutes of Technology Act, 1961Central Act · Act 59 of 1961

(1) Every Institute shall maintain a Fund to which shall be credited--

(a) all moneys provide by the Central Government;

(b) all fees and other charges received by the Institute;

(c) all moneys received by the Institute by way of grants, gifts, donations, benefactions, bequests or transfers; and

(d) all moneys received by the Institute in any other manner or from any other source.

(2) All moneys credited to the Fund of any Institute shall be deposited in such Banks or invested in such manner as the Institute may, with the approval of the Central Government, decide.

(3) The Fund of any Institute shall be applied towards meeting the expenses of the Institute including expenses incurred in the exercise of its powers and discharge of its duties under this Act.

Where this provision sits

ActThe Institutes of Technology Act, 1961
Section22
Marginal noteFund of the Institute.
JurisdictionCentral
StatusIn force as published by the source

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