Foundation Fund

(1) The Council shall have a fund called the Foundation Fund. (2) The Foundation Fund shall consist of - (a) a sum of not less than rupees two lakhs which shall be given to it by the Government ; (b) any contribution to the fund which may be made by the Government, any Local Authority or other Public Body or by any other Government or person; and (c) any contribution to the fund made by the Council. (3) The Foundation Fund shall be invested in securities issued or guaranteed by the Central Government or by any State Government and such investment shall not be varied without the consent of the Chairman. (4) The corpus of the Foundation Fund shall be kept in tact but the interest thereof may be utilised for the purposes of the Council. (5) The expenditure incurred on account of clause (a) of sub-section (2) shall be an expenditure charged on the Consolidated Fund of the State.