Para 6 - Use of funds provided by ECIIP - European Economic Community International Institutional Partners (ECIIP) Scheme, 1993

Use of funds provided by ECIIP. 6. (1) All investments under the ECIIP facilities in joint ventures permitted in India will be made by the partner institutions without the requirement of any approval from the Central Government for such individual investments. (2) The partner institutions shall maintain separate accounts in their books of account for the funds under the ECIIP facilities handled by them on behalf of the European Economic Community and for depositing the sale proceeds of its investments if any.