Section 21. Fund of[6] [Institutes]

21. Fund of[6] [Institutes].— (1)[7] [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; (c) all moneys received by the Institute by way of grants, gifts, donations, benefactions, bequests or transfers; and 1. Subs. by Act 43 of 2021, s. 18, for "Director of the Institute shall be appointed by the Board" (w.e.f. 25-5-2022). 2. Subs. by s. 19, ibid ., for "the Institute" (w.e.f. 25-5-2022). 3. Subs. by s. 20, ibid ., for "Registrar of the Institute" (w.e.f. 25-5-2022). 4. Subs. by s. 21, ibid ., for "enabling the Institute" (w.e.f. 25-5-2022). 5. Subs. by s. 21, ibid ., for "pay to the Institute" (w.e.f. 25-5-2022). 6. Subs. by s. 22, ibid ., for "Institute" (w.e.f. 25-5-2022). 7. Subs. by s. 22, ibid ., for "The Institute shall" (w.e.f. 25-5-2022). (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.