(1) The Council shall have a Fund to be called the West Bengal Council of Higher Secondary Education Fund to which shall be credited—
(a) all sums which may be paid by the State Government under section 27;
(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 Council; and
(d) all other sums received by or on behalf of the Council from any other source whatsoever.
(2) The Fund shall vest in the Council 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 the State Bank of India 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.
29. 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 re-appropriation sanctioned in the prescribed manner.
30. The Council shall keep an account of all its receipts and expenditure in the manner prescribed.