Section 23
Fund of Institute.
The National Institutes of Design Act, 2014
About this Act
An Act to declare the institution known as the National Institute of Design, hmedabad, to be an institution of national importance for the promotion of quality and excellence in education,research and training in all disciplines relating to Design and for matters connected therewith or incidental thereto.
(1) 1[Every 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.
Notes
1. Subs. by s. 19, ibid., for "The Institute" (w.e.f. 13-1-2020).