Section 16 in The National Institute of Fashion Technology Act, 2006
(1) The Registrar of the Institute shall be appointed on such terms and conditions as may be laid down by the Statutes and shall be the custodian of records, the common seal, the funds of the Institute and such other property of the Institute as the Board shall commit to his charge.
(2) The Registrar shall act as the Secretary of the Board, the Senate and such committees as may be prescribed by the Statutes.
(3) The Registrar shall be responsible to the Director-General for the proper discharge of his functions.
(4) The Registrar shall exercise such other powers and perform such other duties as may be assigned to him by this Act or the Statutes or by the Director-General.
Title: Powers and duties of other authorities and officers
The powers and duties of authorities and officers, other than those hereinbefore mentioned, shall be determined by the Statutes.
Title: Grants by Central Government
For the purpose of enabling the Institute to discharge its functions efficiently under this Act, the Central Government may, after due appropriation made by Parliament by law in this behalf, pay to the Institute in each financial year such sums of money and in such manner as it may think fit.
Title: Fund by 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 duties under this Act.
Title: Setting up of endowment fund
Notwithstanding anything contained in section 19, the Central Government may direct the Institute to—
(a) set up an endowment fund and any other fund for specified purpose; and
(b) transfer money from its Fund to endowment fund or any other fund.