Section 23 in National Law School of India Act, 1986
23. Funds of the School. - (1) There shall be for the School a School Fund which shall include,-
(a)any contribution or grant made by the State Governments;(b)any contribution or grant made by the University Grants Commission or the Central Government;(c)any contribution made by the Bar Council of India;(d)any contribution made by the Bar Council of India Trust;(e)any contribution made by the State Bar Councils;(f)any bequests, donations, endowments or other grants made by private individuals or institutions;(g)income received by the School from fees and charges, and(h)amounts received from any other source.(2)The amount in the said Fund shall be kept in a Scheduled Bank as defined in the Reserve Bank of India Act, 1934 or in a corresponding new bank constituted under the Banking Companies (Acquisition and Transfer of Undertaking) Acts of 1970 and 1980 or may be invested in such securities authorised by the Indian Trusts Act, 1982, as may be decided by the Executive Council.(3)The said Fund may be employed for such purpose of the School and in such manner as may be prescribed by regulations.
