Chapter VII FUND OF COUNCIL

35. (1) The Council shall establish a fund to be called the fund of the Council.

1. (2) The following shall form a part of, or be paid into the fund of the Council-
   • (a) Any contribution or grant by Central or State Government;
   • (b) Income of the Council from all sources including income from fees and fines.
   • (c) Trust, donations, endowment or other grants. if any.
   • (d) All other sums received by the Council.

The fund of the Council shall be applicable to the following objects, namely:-

1. (a) to the repayment of debts incurred by the Council for the purposes of this Act and the Rules and regulations made there under ;
2. (b) to the expenses of any suit or legal proceeding in which the Council is a party.
3. (c) to the payment of salaries and allowances to the officers and servants of the Council;
4. (d) to the payment of allowances to the office bearers of the Council;
5. (e) to the payment of any expenses incurred by the Council in carrying out the provisions of this Act and the Rules and Regulations made there under.
6. (f) Any other expenses incurred for the promotion and development of paramedical education, research and training, declared by the Council to be in the general interest of paramedical profession.,

( 1 ) The accounts of the Council shall be maintained at such intervals and in such manner as may be prescribed. ( 2) The accounts of the Council shall be audited by a registered chartered accountant. The audit fee of the chartered accountant shall be fixed by the Council from time to time as per their regulations.

1. (3) As soon as the accounts of the Council are audited the Council shall send a copy thereof, together with a copy of the report of the Director Medical Education thereon, to the State Government in such manner as may be prescribed.

( 1 ) The registrar shall cause to be prepared, in such form as may be prescribed, a budget in respect of the financial year next ensuing, showing the estimated receipts and expenditure and shall cause it to be laid before the Council at such time and in such manner as may be prescribed.

1. (2) Within fifteen days from the date of the meeting in which the budget is passed, it shall be forwarded to the State Government.
2. (3) If the State Government is of the opinion that the provisions of the budget so forwarded to it are not adequate for carrying out the purposes of this Act, it shall return the budget to the Council for such modification as may be suggested by the State Government. ( 4) The Council shall be competent to re-appropriate such amounts as may be necessary from one head to another and within such heads or minor heads. ( 5) The Council may as and when required, pass a supplementary budget in such form and by such date as may be prescribed and the provisions of Sub-section ( 2 ), ( 3) and (4) shall apply to such supplementary budget.,