(1) The Board shall have a Fund to be called the West Bengal Board of Madrasah Education Fund to which shall be credited—
(a) all sums which may be paid by the State Government under section 25;
(b) all fees realised under any of the provisions of this Act;
(c) all sums representing income from endowments or from property owned or managed by the Board; and
(d) all other sums received by or on behalf of the Board from any other source whatsoever.
(2) The Fund shall vest in the Board and shall be under its control and shall be held by it in trust for the purposes of this Act.
(3) All monies payable to the credit of the Fund shall forthwith be paid into the Reserve Bank of India or into the State Bank of India or any branch thereof or into the United Bank of India or any branch thereof to the credit of the Fund, and all cheques drawn on the Fund shall be signed by the President or by such other person as he may authorise in writing in this behalf.
27. No expenditure shall be incurred from the Fund except for the purposes of this Act and unless such expenditure is provided for in the budget as approved under this Act or can be met by reappropriation sanctioned in the prescribed manner.
Payment to the Board by the State Government West Bengal Madrasah Education Board Fund.
Application of the West Bengal Board of Madrasah Education Fund.
395 The West Bengal Board of Madrasah Education Act, 1994.
[West Ben. Act (Chapter W.—Finance and Audit.—Sections 28-30.)
Accounts.
Audit.
Audit Report.
28. The Board shall keep an account of all its receipts and expenditure in the manner prescribed.