Repeal and Saving

Any existing regulation, order, or notification that is inconsistent with this Act is hereby repealed to the extent of such inconsistency. Any income from the funds raised for the specific purposes shall be used for the purposes concerned only and no part of it shall be allowed either to spend elsewhere or to invest it commercially. However, use of remains of such funds can be permitted, on application and after due inspection of the records, towards meeting out the deficit in pension funds in salary aided colleges, or for meeting out the deficit in payment of the salaries to regular teaching staff in non-aided colleges.