Section 21 in The National Trust For Welfare Of Persons With Autism, Cerebral Palsy, Mental Retardation And Multiple Disabilities Rules, 2000
21. Investments.
(1)The funds of the Trust may be invested in short or long term deposits to yield better returns if feasible after keeping sufficient balance at the disposal of Trust or in such manner as the Board may authorise.(2)The Chief Executive Officer shall maintain a register of securities held by the Trust.(3)All investments of the funds of the Trust shall be made in the name of the Trust and all purchases, sales or alternations of such investment shall be effected and all contracts, transfer deeds or other documents necessary for purchasing, selling or altering the investments of the Trust shall be executed by the Chief Executive Officer after approval of the Board.(4)The safe custody of the receipts, securities shall remain in the personal charge of the Chief Executive Officer and shall be verified once in six months with the register of securities in his custody and a certificate of such verification shall be recorded in the register after every verification.(5)The Chief Executive Officer after approval by the Board shall sign and execute all agreements, contracts, transfer deeds of conveyance and other documents in connection with the affairs of the Trust with consultation and advice of the legal advisers appointed by the Trust.(6)The Trust shall invest and deal with funds and moneys of the Trust and shall have the right-(i)to issue appeals and applications of money and funds in furtherance of the said objectives and to raise or collect funds by gifts, donations, subscriptions or otherwise of cash and securities and any movable property;(ii)to acquire, purchase or otherwise own or take on lease or hire temporarily or permanently buy any movable or immovable property necessary or convenient for the furtherance of the objects of the Trust;(iii)to borrow and raise money with or without security or on the security of mortgage charge or on the security hypothecation or pledge of all or any of the movable or immovable properties belonging to the Trust or in any other manner whatsoever, provided that prior approval of Central Government in writing has been obtained in that behalf;(iv)to sell, assign, mortgage, lease, exchange and otherwise transfer or dispose of all or any property movable or immovable of the Trust for the furtherance of the objects of the Trust provided prior approval of the Central Government in writing is obtained for the transfer of the immovable property;(v)to enter into any agreement with any Government or authority, municipal, local or otherwise to obtain from such Government or authority any rights, privileges, concessions, fiduciary or otherwise that the Trust may deem desirable to obtain and carry out, exercise and comply with such arrangements and rights, privileges and concessions;(vi)to draw, make, accept, endorse, discount, execute, sign, issue and otherwise deal with cheques, hundis, drafts, certificates, receipts, Government securities, promissory notes, bills of exchange or other instruments and securities whether negotiable or transferable or not;(vii)to build, construct, maintain, repair, alter, improve or develop or furnish any buildings or works necessary or convenient for the purpose of the Trust;(viii)to undertake and accept management of any endowment or trust fund or donation to further the objects of the Trust but so nevertheless that this shall exclude immovable property;(ix)to appoint or employ temporarily or permanently any person or persons that may be required for the purposes of the Trust and to pay them in return for services rendered to the society, salaries, wages, honorarium, fees, gratuities, provident funds and pensions provided that prior approval of the Central Government is obtained in this behalf;(x)to establish a provident fund and other benefits for employees of the Trust provided that prior approval of the Central Government is obtained in this behalf;(xi)to institute, offer, or grant, prizes, awards, scholarships, fellowships and stipend in furtherance of the objects of the Trust;(xii)to receive and accept grant, donations and other contributions but not immovable property.(7)In case of movable property bequeathed by any person for the benefit of persons with disability under clause (b) of sub-section (1) of section 11 of the Act, the Board shall determine the differential treatment to be provided to the persons covered under the Trust on the basis of the bequests, donations and the agreement made in this regard with the person bequeathing the property.
