Fund of the Council

(1) The Council shall have its own fund to be called the "Tripura State Higher Education Council Fund" (hereinafter referred to as the Fund) consisting of the grants from the Government, grants received from the Central Government for higher education and such other funds as may be received by the Council from any other source; (2) The Government may pay to the Council in each financial year such sum as may be considered by the Government to be necessary for the functioning of the Council; (3) All money belonging to the Fund and all receipts of the Council shall be deposited or invested in such manner as may be prescribed; (4) The Council may make expenditure of such sums as it may think fit for performing its functions under this Act and such sum shall be treated as expenditure payable out of the fund of the Council.