State Act

TANSCHE ACT, 1992

14.(1) The Council shall have its own Fund and all sums which may from time to time be paid to it by the Government and all the receipts of the Council (including any sum which the Central Government, the University Grants Commission or any other authority or person may hand over to the Council) shall be credited to such Fund (2) (a) The Government shall pay to the Council in each financial year block grants, development grants and matching grants and such other sum intended for Universities as the Government may consider necessary for the performance of the functions of the Council under this Act. (b) The Government may pay to the Council in each financial year such sums as may be considered necessary for the functioning of the Council. (3) All expenditure incurred by the Council under or for the purposes of this Act shall be defrayed from out of the said Fund and any surplus remaining, after such expenditure has been met, shall be invested in such manner as maybe prescribed.