Section 19
Fund by Institute.
The National Institute of Fashion Technology Act, 2006
About this Act
An Act to establish and incorporate the National Institute of Fashion Technology for the promotion and development of education and research in fashion technology and for matters connected therewithand incidental thereto.
(1) The Institute shall maintain a Fund to which shall be credited--
(a) all moneys provided by the Central Government;
(b) all fees and other charges received by the Institute;
(c) all moneys received by the Institute by way of grants, gifts, donations, benefactions, bequests or transfers; and
(d) all moneys received by the Institute in any other manner or from any other source.
(2) All moneys credited to the Fund shall be deposited in such banks or invested in such manner as the Institute may, with the approval of the Central Government, decide.
(3) The fund shall be applied towards meeting the expenses of the Institute including expenses incurred in the exercise of its powers and discharge of its duties under this Act.
(a) all moneys provided by the Central Government;
(b) all fees and other charges received by the Institute;
(c) all moneys received by the Institute by way of grants, gifts, donations, benefactions, bequests or transfers; and
(d) all moneys received by the Institute in any other manner or from any other source.
(2) All moneys credited to the Fund shall be deposited in such banks or invested in such manner as the Institute may, with the approval of the Central Government, decide.
(3) The fund shall be applied towards meeting the expenses of the Institute including expenses incurred in the exercise of its powers and discharge of its duties under this Act.