University Fund

(1) The University shall establish a fund to be called the University Fund. (2) The following shall form part of, or be paid into, the University Fund namely:- (a) all contributions or grants made by the State Government, the Central Government, the Bar Council of India, the Bar Council of Andhra Pradesh and the University Grants Commission; (b) the income of the University from all sources including income from fees and charges; (c) all income or money from trusts, bequests, donations, endowments, subventions and other grants. (3) The University fund shall at the discretion of the Executive Council, be kept in a Scheduled Bank as defined in the Reserve Bank of India Act, 1934 or in a corresponding new Bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act. 1970, and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980, or may be invested in such securities authorized by the Indian Trusts Act, 1882. (4) The University Fund may be expended for such purpose of the University and in such manner, as may be prescribed by regulations.