Fund of the Council

(1) The Council shall have its own fund and all such sums, which are paid to it by the State Government from time to time and all receipts of the Council (including such sums as any other authority or any person may hand over to the Council) shall be deposited into the fund and all payments by the Council shall be made from the fund. (2) All money related to the fund shall be deposited in such banks and in such manner as may be specified by the Council, subject to the approval of the State Government, and shall be invested therein. (3) The Council may spend such sums of money as it deems fit for the discharge of its functions under this Act and such sums shall be considered as payment expenditure from the funds of the Council.