Section 15. Fund of Council.

15. (1) The Council shall have its own Fund in which shall be credited- (a) all moneys provided by the State Government; (b) all moneys provided by the Central Government; (c) all moneys provided by the University Grants Commission; (d) all moneys received by the Council by way of grants, gifts, donations, benefactions, bequests of transfers: (e) all moneys received by the Council 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 Council may, with the approval of the State Government, decide. (3) The Fund shall be applied towards meeting the expenses of the Council including the expenses incurred in the exercise of its powers and discharge of its functions under section 11.