Funds of the council

(1) The funds of the Council shall include all sums which may, fiom time to time be paid to it by the government and all other receipts including any sum kom the Central Government, the University Grants Commission or any other authority, institutions or persons. (2) The Government may pay to the Council every financial year such sums as may be considered necessary for the functioning of the Council and for the discharge of its responsibilities and duties. (3) All expenditure incurred by the Council under or for the purposes of this Act shall be defiayed fiom out of the Fund and any surplus remaining, after such expenditure has been met, shall be invested in such manner as may be prescribed.