Section 28 in The Rabindra Mukta Vidyalaya Act, 2001
28. Fund of the [Council] [Word substituted for the word 'Vidyalaya' by W.B. Act 13 of 2006.].
(1)The [Council] [Word substituted for the word 'Vidyalaya' by W.B. Act 13 of 2006.] shall have a Fund to be called [the Rabindra Nath State Council of Open Schooling Fund] [Words substituted for the words 'The Rabindra Mukta Vidyalaya Fund' by W.B. Act 13 of 2006.] (hereinafter referred to in this Act as the Fund of the [Council] [Word substituted for the word 'Vidyalaya' by W.B. Act 13 of 2006.] to which shall be credited -(a)all sums which may be paid by the State Government under section 27;(b)all fees realised under any of the provisions of this Act;(c)all sums representing income from endowments, if any, or from property owned or managed by the [Council] [Word substituted for the word 'Vidyalaya' by W.B. Act 13 of 2006.]; and(d)all other sums received by or on behalf of the [Council] [Word substituted for the word 'Vidyalaya' by W.B. Act 13 of 2006.] from any other source.(2)The Fund of the [Council] [Word substituted for the word 'Vidyalaya' by W.B. Act 13 of 2006.] shall vest in the [Council] [Word substituted for the word 'Vidyalaya' by W.B. Act 13 of 2006.] and shall be under its control and shall be held in trust for the purposes of this Act.(3)[ All moneys payable to the credit of the Council shall forthwith be paid into the State Bank of India or any nationalised bank to the credit of the Fund of the Council, and all cheques drawn on the fund of the Council shall be signed by the President or by such other person as he may authorise in writing in this behalf.] [[Sub-Section (3) substituted by W.B. Act 13 of 2006, which was earlier as under :-'(3) All moneys payable to the credit of the Fund of the Vidyalaya shall forthwith be paid into the State Bank of India or any nationalised bank to the credit of the Fund of the Vidyalaya, and all cheques drawn on the Fund of the Vidyalaya shall be signed by the Director to by such other person as he may authorise in writing in this behalf jointly with any are of two members of Vidyalaya authorised by the Vidyalaya.'.]]
