Constitution of funds for Corporation Sports Council, Municipal Sports Council, Town Sports Council, etc.

(1) Each Corporation Sports Council, Municipal Sports Council, Town Sports Council and Block Sports Council, as the case may be, shall constitute a fund in its name and shall be credited to such fund the amount received for any special purpose in addition to the amount received from the District Sports Council.

(2) The fund constituted under sub-section (1) shall be kept, applied and audited in such manner, as may be prescribed.