Section 33
Fund of Institutes.
The National Institutes of Food Technology, Entrepreneurship and Management Act, 2021.
About this Act
An Act to declare certain institutions of Food Technology, Entrepreneurship and Management to be the institutions of national importance and to provide for instructions and research in food technology, entrepreneurship and management and for the advancement of learning and dissemination of knowledge in such branches and for matters connected therewith or incidental thereto.
(1) Each 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 of each Institute shall be deposited in such banks or invested in such manner as the Institute may, with the approval of the Board, decide.
(3) The Fund of each Institute shall be applied towards meeting the expenses of the Institute including expenses incurred in the exercise of its powers and discharge of its functions 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 of each Institute shall be deposited in such banks or invested in such manner as the Institute may, with the approval of the Board, decide.
(3) The Fund of each Institute shall be applied towards meeting the expenses of the Institute including expenses incurred in the exercise of its powers and discharge of its functions under this Act.