(1) The Council shall establish a fund to be called the fund of the Council.
(2) The following shall form part of, or be paid into, the fund of the Council, namely:-
(a) any contribution or grant made by the Central Government or the State Government;
(b) Income of the Council from all sources including income from fees and fines;
(c) donations, endowment and other grants, if any; and
(d) any other sums received by the State Council.
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(3) The fund of the Council shall be managed and administered in the prescribed manner.
(4) The funds of the Council shall be applied to the following objects, namely:-
(a) for the repayments of debts incurred by the Council for the purposes of this Act.
(b) for the expenses of any suit or legal proceedings to which the Council is a party.
(c) for the payment of salaries and allowances to the officers and staff of the Council.
(d) for the payment of allowances to the office bearers of the Council.
(e) for the payment of any expenses incurred by the Council in carrying out the provisions of this Act and the rules and regulations made thereunder; and
(f) any other expenses incurred for the promotion and development of Para-medical education, research and training, declared by the Council to be in the general interest of Para-medical education and profession;