section 11
Endowment Fund
The Azim Premji (Assam) University Act, 2025Education202550 sections
Statutory text
- (1) The sponsoring body shall establish an Endowment Fund for the university with an amount of -
- (i) Rupees One Crore in case the university is situated in Scheduled Tribes area;
- (ii) in other case, Rupees Two Crore
- (2) The Endowment Fund shall be used as security deposit to ensure that the university complies with the provisions of this Act and functions as per the provisions of this Act, Statutes and Ordinances.
- (3) Income from Endowment Fund may be utilized for development of infrastructure of the university, but shall not be utilized to meet out the recurring expenditure of the university.
- (4) The amount of Endowment Fund shall be invested and kept invested until the dissolution of the university.
- (5) The University shall have power to invest the Endowment Fund in such manner as may be prescribed.
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