Section 11 in The Jammu and Kashmir Advocates Welfare Fund Act, 1997
11. Funds borrowing and investment.
(1)The Trustee Committee may, with the prior approval of the Government and the Bar Council, borrow, from time to time, any sum required for crying out the purposes of the Act.(2)The Trustee Committee shall deposit all moneys and receipts forming part of the Fund in any Scheduled Bank or invest the same in loan to any corporation owned and controlled by the Government or in loans floated by the Government or any other manner as the Trustee Committee may, from time to time, decide with the prior approval of the Government.(3)All amounts due and payable under this Act and all expenditure relating to the management and, administration of the Fund shall be paid out of the Fund.(4)The accounts of the Trustee Committee shall be audited annually by a Chartered Accountant appointed by the Bar Council.(5)The accounts of the Trustee Committee as certified by the audit together with the audit report thereon, shall be forwarded to the Bar Council which may issue such directions as it deems fit to the Trustee Committee in respect thereof.(6)The Trustee Committee shall comply with the directions issued by the Bar Council under sub-section (5).
