Section 12 in The West Bengal State Council Of Higher Education Act, 1994.
12. Fund of the State Council.
(1)The State Council shall have its own Fund to be called the West Bengal State Council of Higher Education Fund (hereinafter referred to as the Fund) consisting of the grants from the Government, grants received from the Central Government for higher education and such other funds as may be received by the State Council from any other source.(2)The Government may pay to the State Council in each financial year such sum as may be considered by the Government to be necessary for the functioning of the State Council.(3)All money belonging to the Fund and all receipts of the State Council shall be deposited or invested in such manner as may be prescribed.(4)The State Council may spend such sums as it may think fit for performing its functions under this Act, and such sums shall be treated as expenditure payable out of the Fund of the State Council.
