Lawgist16Fund of the Institute
(1) 1[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 received by the Institute;
(c) all moneys received by the Institute by way of grants, gifts, donations, benefactions, bequests or transfers; and
(d) all moneys received by the Institute in any other manner or from any other source.
2[Provided that the Fund maintained by the existing Institute and the society, before the commencement of the All-India Institute of Medical Sciences (Amendment) Act, 2012 (37 of 2012), shall be deemed to be the Fund maintained under this section.]
(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 functions under section 14.
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1 Subs. by s. 17, ibid., for "The Institute" (w.e.f. 16-7-2012).
2 Ins. by s. 17, ibid. (w.e.f. 16-7-2012).
- 1 Short title and commencement
- 2 Definitions
- 3 Establishment and incorporation of the Institute
- 4 Composition of the Institute
- 5 Declaration of Institutes as institution of national importance
- 6 Term of office of, and vacancies among, members
- 7 President of the Institute
- 8 Allowances of President and members
- 9 Meetings of the Institute
- 10 Governing Body and other Committees of the Institute
- 11 Staff of the Institute
- 12 Location of the Institute
- 13 Objects of the Institute
- 14 Functions of the Institute
- 15 Payment to the Institute
- 16 Fund of the Institute
- 17 Budget of the Institute
- 18 Accounts and audit
- 19 Annual Report
- 20 Pension and provident funds
- 21 Authentication of the orders and instruments of the Institute
- 22 Acts and proceedings not to be invalidated by vacancies, etc
- 23 Recognition of Medical, dental and nursing qualifications granted by the Institute
- 24 Grant of medical, dental or nursing degrees, diplomas, etc., by the Institute
- 25 Control by Central Government
- 26 Disputes between the Institute and the Central Government
- 27 Returns and information
- 27A Incorporation of Institute registered as society under the Societies Registration Act, 1860
- 27B Effect of incorporation of Institutes
- 27C Provisions of this Act to apply to societies incorporated into All-India Institutes of Medical Science under section 27A
- 27D Power to make transitory provisions for Institutes (other than existing Institute)
- 28 Power to make rules
- 29 Power to make regulations
