Section 16 in Powerloom Registration Funds Rules, 1992
16. Bank account.
(a)The amount so far credited and stood in the general funds of the Government shall be transferred to this fund and further collection shall be deposited to this fund.(b)The transactions of the fund shall be through an account with any of the Co-operative Banks or Nationalised Bank situated nearer to the office of the Commissioner of Handlooms and Textiles as the Board may authorise. However, preference shall, always, be for a Co-operative Bank.(c)The accounting period of the fund shall be from the 1st April to 31st March of every year.
