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Section 23: Fund of Institute.

The National Institutes of Design Act, 2014Central Act · Act 18 of 2014

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

(a) all moneys provided 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 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 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 National Institutes of Design Act, 2014
Section23
Marginal noteFund of Institute.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • substituted. . Subs. by s. 19, ibid., for "The Institute" (w.e.f. 13-1-2020).

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