Meaning of Vice-Chancellor

( 43) "Vice-Chancellor" means the Vice-Chancellor of the University appointed under section 16 of the Act; (1) The Sponsor shall establish an endowment fund of rupees three crores in form of FDR in favour of University; pledged to the State Government, opened in a nationalized bank. (2) The University shall have power to utilize interest earned out of the endowment fund in such a manner as may be prescribed; (3) The University may transfer any amount from the general fund or the development fund to endowment fund, Excepting in the dissolution of the University, in no other circumstances can any money be transferred from the endowment fund for other purposes; (4) Not exceeding 75 percent of the incomes received from the endowment fund shall be used for the purpose of development work of the University. The remaining 25 percent shall be reversed in to endowment fund;