General and Other Funds

(1) The income from the fees and other charges realized by, any contribution and endowment received by, and all grants made to, the University, shall form one general fund to be called the “General Fund of the University” and all money so realized and received shall be credited to it. (2) The University may have such other funds and shall maintain such accounts in respect of every fund as may be prescribed. (3) All monies credited to the general Fund of the University shall be deposited in such Banks or invested in such manner as the University may, with the previous approval of the Government, decide. Convocations of the University for the conferring of degrees or for other purposes shall be held in such manner as may be prescribed by the Ordinances.