Fund of Council

Health200765 sections14 chapters

Chapter IX FINANCE, ACCOUNTS, AUDIT AND REPORTS OF COUNCILS

Statutory text

(1) The Council shall have its own fund and all receipts of the Council shall be carried thereto and all payments by the Council shall be made therefrom.
(2) The Council may accept grants, subventions, donations and gifts from the Central or the State Government or a local authority or any individual or body, whether incorporated or not, for the purposes of this Act.
(3) The Council may spend such sums as it thinks fit for the performance of its functions under this Act and such sums shall be treated as expenditure payable out of the fund of the Council .
(4) All moneys belonging to the fund of the Council shall be kept in any corresponding new Bank specified in column 2 of the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and in column 2 of the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 and approved by the State Government for the purpose or invested in securities authorised by the Trusts Act, 1882 at the discretion of the Council.

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