Section 30 in The Bihar Intermediate Education Council Act, 1992
30. Funds of the Council.
(1)The Council shall have its own funds to be called as Bihar Intermediate Council Fund in which the following amount shall be credited. -(a)All amounts received from the State Government under Section 30;(b)All loans taken by the Board under Section 31;(c)All kind of fees and other receipts received under the provisions of this Act.(d)Income to the Council from bequest, gift endowment, trust and other kinds of property; and(e)All amounts received by or on behalf of the Council.(2)The funds shall be kept in any Scheduled Bank within the meaning of the Reserve Bank of India Act, 1934 Postal Savings Account or invested in public Securities authorised by the Indian Trusts Act, 1882 at the discretion of the Council.
