National Library of India Act : FUND OF BOARD Indian Bare Acts :

National Library of India Act,1976

Act No : 76

Section : FUND OF BOARD

SECTION 23: FUND OF BOARD

(1) The Board shall maintain a Fund to which shall be credited-

(a) all moneys paid by the Central Government;

(b) all fees and other charges levied under this Act;

(c) all moneys received by the Board by way of grant, gift, donation, benefaction, bequest, subscription, contribution or transfer.

(d) all other moneys received by the Board in any other manner or from any other source.

(2) The Board may expend such sums as it thinks fit for performing its functions under this Act and such sums shall be treated as expenditure payable out of the Fund.

(3) A sum of money not exceeding such amount as may be provided by regulations made under this Act may be kept in current account with any scheduled bank as defined in section 2 of the Reserve Bank of India Act, 1934-, or any other bank approved by the Central Government in this behalf but any moneys in excess of that sum shall be deposited in the Reserve Bank of India or with the agents of the Reserve Bank of India or invested in such manner as may be approved by the Central Government.