Section 12 – THE ADVOCATES WELFARE FUND ACT, 2001

THE ADVOCATES’ WELFARE FUND ACT, 2001

 

 

12. Borrowing and investment.—

 

(1) The Trustee Committee may, with the prior approval of the appropriate Government and the State Bar Council, borrow, from time to time, any sum required for carrying out the purposes of this Act.

 

(2) The Trustee Committee shall deposit all monies and receipts forming part of the Fund in any scheduled bank or invest the same in debt instruments of any corporation owned or controlled by the appropriate Government or in loans floated by the appropriate Government or in any other manner as the State Bar Council may, from time to time, direct with the prior approval of the appropriate 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.

 

 

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THE ADVOCATES’ WELFARE FUND ACT, 2001

 

Indian Laws – Bare Acts

 

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