Education fund where to be deposited and how to be drawn upon.

(1) The education fund constituted under section 35 shall be deposited in Government treasury.

(2) All expenses incurred on education by the local authority concerned shall be paid out of the said fund.

(3) All orders or cheques to be drawn upon the fund shall be signed by the chief executive officer of the local authority or by such person as he may authorise in writing to sign on his behalf.

(4) So far as the funds to the credit of the local authority concerned permit, the treasury shall pay-

(a) all orders or cheques signed in accordance with sub-section (3);

(b) all payments made or expenses incurred by the Government on behalf of the local authority by or under the provisions of this Act, provided that the local authority has given previous permission in writing to the treasury to debit such expenses to the fund without the issue of any order or cheque.