Examination Fund

(1) There shall be established a fund to be called the Jharkhand Academic Council Fund, which shall be vested in the Council for the purpose of this Act subject to the provisions there in contained. (2) There shall be placed to the credit of the Jharkhand Academic Council Fund. (a) all money received by or on behalf of the Council including all fees payable and levied under any provisions of this Act and the rules and regulations made thereunder; (b) all sums borrowed by the Council for the purposes of carrying out the provisions of this Act and the rules and regulation made thereunder; and (c) all other sums received by the Council, not included in the preceeding clauses. (3) All sums received under sub-section-2 shall be kept in any nationalised Scheduled Indian Bank and shall be credited to an account to be called the account of the Jharkhand Academic Council.