Act Number: 16

Act Name: The Institute of Teaching and Research in Ayurveda Act, 2020

Year: 2020

Enactment Date: 2020-09-21

Long Title: An Act to provide for the establishment of an Institute of Teaching and Research in Ayurveda and to declare it as an Institution of national importance for the promotion of quality and excellence in education, research and training in Ayurveda and allied disciplines and for matters connected therewith or incidental thereto

Ministry: Ministry of Ayush

Department:

Section 15: Fund of Institute.
    (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 utilised towards meeting the expenses of the Institute including expenses incurred in the exercise of its powers and discharge of its duties under section 13.
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