Fund of the Council

(1) The Council shall establish a fund to be known as the Fund of the Council. (2) The following shall be part of the Fund of the Council, or shall be paid into it, namely:- (a) any contribution or grant given by the Central Government or the State Government; (b) income of the Council from all sources, including income from fees and fines; (c) gifts, endowments and other grants, if any; and (d) any other amount received by the Council. (3) The management and administration of the Fund of the Council shall be done in the prescribed manner. (4) The Fund of the Council shall be utilized for the following purposes, namely:- (a) for the repayment of loans incurred by the Council for the purposes of this Act; (b) for the expenses of any suit or legal proceedings to which the Council is a party; (c) for the payment of salary and allowances of the officers and staff of the Council; (d) for the payment of allowances of the office-bearers of the Council; (e) for the payment of any expenses incurred by the Council in carrying out the provisions of this Act and the rules and regulations made thereunder; and (f) for any other expenses incurred for the promotion and development of Ayurved nursing education, research and training, which are declared by the Council to be in the general interest of Ayurved nursing education and profession.