Fund

(1) All fees received in connection with the operations of the Council, all income such as rent and profit derived from properties and funds vested in the Council, all grants and loans, if any, received from the Government, all donations and gifts received from any source, all other miscellaneous receipts and amount received, shall constitute the fund of the Council which shall be utilized for the purposes specified in this Act. (2) The fund of the Council shall be deposited in a scheduled bank as defined in the Reserve Bank of India Act, 1934 (Central Act 2 of 1934), as determined by the Council. (3) The custody of the fund, payment of money therefrom, withdrawal of money therefrom and all other incidental matters shall be regulated in such manner as may be prescribed.