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23. Fund of the Council.-

(1) The Council shall have its own fund; and all sums which may, from time to time, be paid to it by the Central Government or a State Government and all the receipts of the Council, including any sum which any other authority or person in India or abroad may pay to the Council, shall be credited to the fund and all payments by the Council shall be made therefrom.

(2) All moneys belonging to the fund shall be deposited in such banks or invested in such manner as may be decided by the Council.

(3) The Council may spend 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 of the Council.

National Council for Teacher Education Act, 1993 Back

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