Panchayat Union (Education) Fund

Panchayat Union (Education) Fund. —

1. (1) The Panchayat Union Council shall constitute a separate fund to be called the "Panchayat Union (Education) Fund".
2. (2) There shall be credited to the said fund—
   • (a) such portion of the Panchayat Union General Fund as the Government may, from time to time, direct;
   • (b) the Local Education Grant;
   • (c) all contributions received from Village Panchayats or other local authorities for the purpose of education;
   • (d) all income derived from endowments or other property owned or managed by the Panchayat Union Council for the benefit of schools;
   • (e) all fines and penalties levied under this Act or any other law for the time being in force, in respect of offences relating to education;
   • (f) all other sums of money received by the Panchayat Union Council for the purposes of education.
3. (3) The said fund shall be applied for the promotion of education within the jurisdiction of the Panchayat Union Council.