Advocates’ Welfare Fund Act : Borrowing and investment. Indian Bare Acts :

Advocates’ Welfare Fund Act,2001

Act No : 45

Section : Borrowing and investment.

12. Borrowing and investment.-(1) The Trustee Committee may, with the prior approval of the appropriate Government and the State Bar Council, borrow, from time to time, any sum required for carrying out the purposes of this Act. (2) The Trustee Committee shall deposit all monies and receipts forming part of the Fund in any scheduled bank or invest the same in debt instruments of any corporation owned or controlled by the appropriate Government or in loans floated by the appropri te Government or in any other manner as the State Bar Council may, from time to time, direct with the prior approval of the appropriate Government. (3) All amounts due and payable under this Act and all expenditure relating to the management and administration of the Fund shall be paid out of the Fund.