Section 10(iii) in Regulations Under the U.P. Intermediate Education Act, 1921
(iii)Control and administration of all Boys Funds; it shall be the duty of the Principal to see to it that each such fund is spent only for that item for which it is allowed; and if there is saving on any item, the stoppage of fee realised for that fund; granting free-ship and half-free-ship within the number sanctioned by the Management; drawing and disbursing of stipend and scholarship money.
