Lawgist12Borrowing 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 appropriate 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.
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- 4 Establishment of Trustee Committee
- 5 Disqualifications and removal of Chairperson of Member of Trustee Committee
- 6 Resignation by nominated Chairperson and Members of Trustee Committee and filling up of casual vacancy
- 7 Vacancies, etc., not to invalidate proceedings of Trustee Committee
- 8 Meetings of Trustee Committee
- 9 Travelling daily allowances to nominated Chairperson and Members of Trustee Committee
- 10 Vesting and application of Fund
- 11 Functions of Trustee Committee
- 12 Borrowing and investment
- 13 Accounts and audit
- 14 Powers and duties of Secretary
- 15 Payment of certain monies to Fund by State Bar Council
