section 5
Vesting, investment and custody of its accretions and income
The Jaipur Sud Sadabarat Fund Administration Act, 1963General196321 sections
Statutory text
- (1) The Fund and its accretions and income shall vest in the Board of Management for the purposes specified in and subject to the provisions of this Act. (2) The principal amount of the Fund and its accretions and the unutilised income thereof, if any, shall be invested in such Government securities as the Board may, from time to time, determine: Provided that the unutilised income shall be so invested only if such income remains unutilised for two financial years. (3) All such securities shall stand in the name of the President of the Board for and on behalf of the Board. (4) The President shall cause such securities to be deposited with a Scheduled Bank at Jaipur for safe custody and collection of interest thereon.
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