Section 15 in The Haryana Board of School Education Act, 1969
15. Constitution of the Board Fund.
(1)There shall be constituted a Fund to be known as the "Board Fund" to which shall be credited -(a)all fees received by the Board and all endowments, donations, grants or contributions made to it by the State Government or by any other Government person, body or authority; and(b)all moneys received from any other source.(2)All moneys at the credit of the Board shall be kept in the State bank of India or such other bank as the State Government may specify :[ Provided that the Board may invest such moneys, as are not required by it for immediate expenditure, in any of the Government securities or grant loan out of them to any Government company as defined in the Companies Act, 1956, and on such terms and conditions, as the State Government may approve in this behalf or place them in the fixed deposit in any bank approved by the State Government.] [Substituted by Haryana Act 26 of 1979 Section 16.](3)Subject to the provisions of this Act, the Board Fund may be applied for purposes of payment of the charges and expenses connected with or incidental to the several matters specified in this Act and the regulations made thereunder and for any other purpose for which by or under this Act powers are conferred or duties imposed on the Board.(4)The annual net savings shall be used by the Board for the development is school education and raising the standards thereof and for such other educational purposes as the State Government may direct,(5)The accounts of the Board shall be audited annually by such agency and on payment of such fees as may be specified by the State Government and a copy of the annual audited accounts and balance sheet shall be submitted by the Board to the State Government within a period of six months from the close of the financial year.[16. Control of State Government over Board. - (1) The State Government shall exercise superintendence and control over the Board and its officers and may call for such information as it may deem necessary and, in the event of its being satisfied that the Board is not functioning properly or is abusing its powers or is guilty or corruption or mismanagement, it may, by notification, suspend the Board :Provided that the Board shall be reconstituted within a period of one year from the date of its suspension.(2)When the Board is suspended under sub-section (1), the following consequences shall ensue, namely :-(a)all members of the Board and its committees, including the Chairman and Vice-Chairman thereof, shall, from the date of the notification, vacate their offices ;(b)all powers , duties and functions, which under the provisions of this Act or any regulation made thereunder, are to be exercised by the Board or any committee thereof or by the Chairman or Vice-Chairman of the Board or any other officer of the Board, shall, during the period of suspension, be exercised and performed by such person (to be called the administrator) as may be appointed by the State Government, in this behalf :Provided that the administrator may, subject to the approval of the State Government, delegate any of his powers, duties or functions to such other person as he may think fit ;(c)all properties, including the Board Fund vested in the Board shall, until it is reconstituted, vast in the State Government.]
