Section 10 in Jharkhand Advocates Clerks Welfare Fund Act, 2018
10. Borrowing and investment of Fund.
(1)The Committee may , with the prior approval of the Bar Council, borrow, from time to time, any sum required for carrying out the purposes of this Act.(2)The Committee shall deposit all moneys and receipts forming part of the Fund in any Scheduled Bank as defined in the Reserve Bank of India Act,1934 or invest the same in loans to any Corporation owned or controlled by the Central Government or the State Government or in any other manner as the Bar Council, may from time to time, direct with prior approval of the Government.(3)All amount due and payable under this Act and all expenditure relating to the management and administration of the Fund shall be paid out of the Fund.(4)The accounts of the Committee shall be audited annually by a Chartered Accountant appointed by the Committee.(5)The accounts, as certified by the auditor together with the audit report there on, shall be forwarded to the Bar Council by the Committee and the Bar Council may issue such direction as it deems fit to the Committee in respect there of.(6)The Committee shall comply with the directions issued by the Bar Council under sub - section(2).
