(1) The Council shall have a Fund to be called the West Bengal State Council of Technical and Vocational Education and Skill Development Fund to which shall be credited—
(a) all sums which may be paid by the State Government under section 23;
(b) all fees realised under any 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 source whatsoever.
16 THE KOLKATA GA7FTTE, EXTRAORDINARY. FEBRUARY 14, 2014 [PART III The West Bengal State Council of Technical and Vocational Education and Skill Development Act, 2013.
(Chapter V—Finance, Accounts and Audit.—Sections 25-28.)
(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 moneys payable to the credit of the Fund shall forthwith be paid into the Reserve Bank of India, or the State Bank of India or any branch thereof, or any Nationalised Bank or any Branch thereof or any Scheduled Bank authorized by the State Government, to the credit of the Fund, and all cheques drawn on the Fund shall be signed by the Chairperson or by such other persons as he may authorise in writing in this behalf.
Application of Fund.
Annual Report.
Accounts.
Audit and Audit Report.
25. No expenditure shall be incurred from the Fund except for the purpose of this Act and unless such expenditure is provided for in the budget estimate as approved under this Act or may be met by re-appropriation sanctioned in the prescribed manner.
26. The Council shall prepare in such form and at such time as may be prescribed an annual report once in every year giving a true and full account of its activities during the previous year, and copies thereof shall be forwarded to the State Government.
27. The Council shall keep an account of all its receipts and expenditure in the manner prescribed.