Section 12 in The West Bengal Advocates Welfare Fund Act, 1991.
12. Power to borrow and invest, and to make payment out of Fund. -
(1)The Trust Committee may, on the recommendation of the Bar Council and with the prior approval of the State Government, borrow money from time to time for carrying out the purposes of this Act.(2)The Trust Committee shall deposit all moneys and receipts forming part of the Fund with any nationalised or other bank and may invest the same in any units issued by the Unit Trust of India or in any National Savings Certificates issued by any post-office or in any Government Securities or in any loans to any corporation owned or controlled by the Central Government or the State Government or in any loans floated by the Central Government or the State Government or in such other manner as the Bar Council may, from time to time, direct with the prior approval of the State Government.(3)All amounts due and payable under this Act and all expenditure on account of the administration of the Fund shall be paid out of the Fund.
