Section 10 in The Advocates Fund Act 2001
Title: Vesting and application of Fund
The Fund shall vest in, and be held and applied by, the Trustee Committee subject to the provisions, and for the purposes, of this Act.
Title: Functions of Trustee Committee
(1) Subject to the provisions of this Act and any other law for the time being in force, the Trustee Committee shall administer the Fund.
(2) Without prejudice to the generality of the provisions contained in sub-section (1), the Trustee Committee shall—
(a) hold the amounts and assets belonging to the Fund in trust;
(b) receive applications for admission or re-admission as members to the Fund, and dispose of such applications within ninety days from the date of receipt thereof;
(c) receive applications from the members of the Fund, their nominees or legal heirs, as the case may be, for payment out of the Fund, conduct such enquiry as it deems necessary and dispose of the applications within five months from the date of receipt thereof;
(d) record in the minutes book of the Trustee Committee, its decisions on the applications;
(e) pay to the members of the Fund or their nominees or legal heirs, as the case may be, the amounts at the rates specified in Schedule I;
(f) send such periodical and annual reports as may be prescribed, to the appropriate Government and the State Bar Council;
(g) communicate to the applicants, by registered post with acknowledgment due or through electronic mode, the decisions of the Trustee Committee in respect of applications for admission or re-admission as members to the Fund or claims to the benefit of the Fund;
(h) do such other acts as are, or may be, required to be done under this Act and the rules made thereunder.
Title: 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.
Title: Accounts and audit
(1) The Trustee Committee shall maintain proper accounts and other relevant records and prepare an annual statement of accounts and annual report in such form and in such manner as may be prescribed.
(2) The accounts of the Trustee Committee shall be audited annually by a chartered accountant appointed by the State Bar Council.
(3) The accounts of the Trustee Committee as audited by the chartered accountant together with his audit report shall be forwarded to the State Bar Council by that Committee and the State Bar Council may issue such directions, as it deems fit, to the Trustee Committee in respect thereof.
(4) The Trustee Committee shall comply with the directions issued by the State Bar Council under sub-section (3).
(5) The Trustee Committee shall pay from the Fund the charges for the audit as may be fixed by the State Bar Council.
Title: Powers and duties of Secretary
The Secretary of the Trustee Committee shall—
(a) be the chief executive authority of the Trustee Committee and responsible for carrying out its decisions;
(b) represent the Trustee Committee in all suits and proceedings for and against the Trustee Committee;
(c) authenticate by his signature all decisions and instruments of the Trustee Committee;
(d) operate bank account of the Trustee Committee jointly with the Chairperson;
(e) convene meetings of the Trustee Committee and prepare minutes of such meetings;
(f) attend meetings of the Trustee Committee with all the necessary records and information;
(g) maintain such forms, registers and other records as may be prescribed from time to time and do all correspondence relating to the Trustee Committee;
(h) prepare an annual statement of business transacted by the Trustee Committee during a financial year;
(i) do such other acts as are or may be directed by the Trustee Committee and the State Bar Council.