Section 11 in The Punjab Health Systems Corporation Act, 1996
11. Funds of the Corporation.
(1)The Corporation shall have its own fund consisting of, -(a)the grants from the Government voted by the State Legislature which shall not be less than the present annual expenditure of the State Government on salaries/medicines, equipment and maintenance of the medical institutions specified in the Schedule appended to this Act and grants received from the Central Government ;(b)loans or grants from the World Bank or other International Financial Institutions or Agencies on such terms and conditions, as may be stipulated and agreed upon ;(c)loans from financial institutions as well as from other medical institutions who might be prepared to collaborate with the Corporation ;(d)all moneys received by or on behalf of the Corporation from public bodies, private bodies or private individuals by way of contributions, grants, gifts or deposits ;(e)all moneys received by or on behalf of the Corporation under the provisions of this Act or any other law for the time being in force, or under any contract ;(f)all proceeds of the disposals of the property by or on behalf of the Corporation ;(g)all rents accruing from any property of the Corporation ; and(h)all interests and profits arising from any investment of or from any transaction in connection with any money belonging to the Corporation.(2)All moneys belonging to the fund shall be invested in such manner, as the Board of Directors may decide.(3)The Corporation may spend such sums as may be deemed fit for performing its functions under this Act and such sums shall be treated as expenditure payable out of the fund.
