Section 3 in The Bar Council Of India Advocates Welfare Scheme, 1998
3. Part C: Administration
(i)The Scheme shall be administered by the Advocates Welfare Committee of the concerned State Bar Council,(ii)A welfare fund by name "All India Advocates Welfare Fund" or any other name which the Bar Council of India may decide, shall be established with the subscriptions received from the members, and income which may be received from other sources and in each of the State separate accounts shall be opened,(iii)The moneys of the fund shall be invested in securities/ investments as may be considered appropriate by the Advocates Welfare Committee keeping in view the safety of the fund and ensure higher returns on the fund,(iv)The Advocates Welfare Committee shall have the power to appoint with the consent of the Bar Council of India, any person or persons with requisite qualifications to act as the Secretary/Secretaries, Manager/ Managers or Registrars of the Fund at such remuneration and on such terms and conditions and with such powers as the Advocates Welfare Committee may think fit, The Committee may also employ any person or persons to do any legal, accounting, actuarial any other work which they may consider necessary or expedient in connection with the management of the fund or of the assets, thereof,(v)An actuarial valuation shall be carried out by a qualified Actuary every two years to ascertain the solvency of the Fund and to examine the possibility of improvement of benefits,(vi)The account of the fund shall be maintained in India and shall contain such particulars as the Advocates Welfare Committee may think proper and as required by law, As soon as possible after 31st day of March in each year, the Committee shall take a general account of the assets and liabilities of the fund and Shall prepare a balance sheet and revenue account showing the income and expenditure during the year terminating on such thirty first day of March in such form as may be considered suitable by the Advocates Welfare Committee,The first accounting period will be from 1st August, 1998 to 31st March, 1999, Thereafter the accounting year shall be from 1st April to 31st March of each year,(vii)The accounts of the fund shall be audited yearly by a Chartered Accountant or a firm of Chartered Accountants, who shall have an access to all the books, papers, vouchers and documents connected with the fund, and who writing shall e Welfare shall in Council of furnished to the Bar the A copy report audited ac o AdvocatesIndia,
