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Section 26

Punjab State Board of Technical Education and Industrial Training Act 1992State Act of Punjab · Act 2 of 1993

(1) There shall be a fund of the Board to be known as the Technical Education Development Fund (hereinafter referred to as the Fund).

(2) All receipts of the Board shall be credited into the fund.

(3) All expenditure incurred by the Board shall be defrayed out of this Fund, which shall be operated in such manner, as may be prescribed.

(4) All moneys lying in the credit of the Fund, shall be kept in any Scheduled Bank as defined in the Reserve Bank of India,1934(Act 2 of 1934) or the same may also be invested in securities of Central Government, State Government or a Public Sector Undertaking.

(5) The fund shall be utilized for payment of charges and expenses authorised by or under this Act or for carrying out the purposes of this Act.

27. The accounts of the Board shall be got prepared by the Secretary and audited annually by such an agency on payment of such amount, as may be specified by the Government.

Where this provision sits

ActPunjab State Board of Technical Education and Industrial Training Act 1992
Section26
JurisdictionState of Punjab
StatusIn force as published by the source

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