Section 16 of The Jawaharlal Institute of Post-Graduate Medical Education and Research, Puducherry, Act, 2008
Fund of Institute.
- (1)The Institute shall maintain a Fund to which shall be credited--
- (a)all moneys provided by the Central Government;
- (b)all fees and other charges received by the Institute;
- (c)all moneys received by the Institute by way of grants, gifts, donations, benefactions, bequests or transfers; and
- (d)all moneys received by the Institute in any other manner or from any other source.
- (2)All moneys credited to the Fund shall be deposited in such banks or invested in such manner as the Institute may, with the approval of the Central Government, decide.
- (3)The Fund shall be applied towards meeting the expenses of the Institute including expenses incurred in the exercise of its powers and discharge of its functions under section 13.
Summary
- The Institute must keep its own financial fund to manage its money.
- This fund collects money from the Central Government, student fees, donations, gifts, and any other sources.
- The Institute can deposit this money in banks or invest it, but only with the Central Government's approval.
- The money is used to pay the Institute's expenses, including the costs of doing its specific jobs like teaching and running hospitals.
Practical examples
FAQ
1. Where does the money for the Institute's Fund come from?
It comes from government grants, fees, gifts, donations, and other outside sources.
2. Can the Institute invest the money however it wants?
No, it needs the approval of the Central Government to decide where to deposit or invest the money.
3. What is the money in the Fund used for?
It is used to pay the Institute's expenses and carry out its required functions.
4. Can the fund be used to run a hospital?
Yes, because running a hospital is one of its official functions under the law.
Test yourself
Q1.Under Section 16 of The Jawaharlal Institute of Post-Graduate Medical Education and Research, Puducherry, Act, 2008, which of the following is NOT listed as a source of money that goes into the Fund?
Q2.According to Section 16 of The Jawaharlal Institute of Post-Graduate Medical Education and Research, Puducherry, Act, 2008, what restriction is placed on how the Institute deposits or invests its Fund?
Q3.Section 16 of The Jawaharlal Institute of Post-Graduate Medical Education and Research, Puducherry, Act, 2008 states the Fund is used for expenses including those under Section 13. Based on this cross-reference, which specific activity could the Fund legally pay for?
Q4.Under Section 16 and Section 13 of The Jawaharlal Institute of Post-Graduate Medical Education and Research, Puducherry, Act, 2008, could the Institute's Fund be used to equip a dental college?