(1) All sums received by or on behalf of the Board Dr the Executive Council shall be paid into a fund called the Secondary Education Fund to which shall be credited—
(a) all sums paid by the State Government for the purpose of enabling the Board to. perform its functions under this Act;
Secondary Education Fund.
(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 for the purposes of this Act;
(d) all sums received from the sale of publications underthis Act; and
(e) all other sums received by the Board for any purpose provided in this Act.
(2) The Secondary Education 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 Secondary Education Fund shall forthwith be paid into the Reserve Bank of India to the credit of the said Fund, and all cheques on the said Fund shall be signed by the President or by, such other person as he may authorise in writing in this behalf.