LexSection 15 — Vesting of property.
The National Institute of Mental Health and Neuro-Sciences, Bangalore Act, 2012
(1) The properties of the National Institute of Mental Health and NeuroSciences, Bangalore, registered under the Karnataka Societies Registration Act, 1960 (Katnataka Act XVII of 1960) shall, on the date of commencement of this Act, vest in the Institute. (2) All income and property of the Institute shall be applied towards the promotion of the objects thereof as set forth in this Act. (3) No portion of the income and property of the Institute shall be paid or transferred, directly or indirectly, by way of profit to the persons, who at any time, or have been members of the Institute: Provided that nothing herein contained shall prevent the payment of remuneration and other allowances to any member thereof or other persons for the services rendered to the Institute.Open in Lexace · Ask the AI about this section