Section 5 in The M.P. Ashaskiya Shikshan Sanstha (Institutional Fund) Rules, 1983
5. Operation of the Fund.
(1)Notwithstanding anything contained in Rule 4, the institutional fund shall be operated jointly by a representative of the institution nominated by its management and the Education Officer or his nominee.(2)For purpose of sub-rule (1) the management shall pass a resolution in appropriate words and send three copies thereof to the education officer. The Education Officer shall send two copies of the resolution to the Treasury Officer/Sub-Treasury Officer and retain one copy in his own office.(3)Where a reference is received from the Head of the Department in case of private schools and from the Madhya Pradesh Uchcha Shiksha Anudan Ayog in case of Non-Government educational institution for higher education to the effect that,-(i)no representative has been appointed by the management for joint operation of the account; or(ii)Co-operation is not being extended by the representative appointed by it in the joint operation of an account; or(iii)the legal status of the management of the institution is not clear; or(iv)the management of the institution is not functioning properly otherwise;the State Government may issue, an order authorising the Education Officer or his nominee to operate the account singly for such period as may be specified in the order.
