section 24
Endowment Fund
The Chhattisgarh Private Universities (Establishment and Operation) (Amendment) ActEducation200537 of 39 sections available
Statutory text
- (1) The University shall establish an Endowment Fund, of at least Rs. 2,00,00,000 (Two Crores) or such higher amount as may be prescribed by the Regulatory Commission. (2) The University shall have the power to invest the endowment fund in such manner as may be prescribed. (3) The University may transfer any amount from the General Fund or the Development Fund to the Endowment Fund. Except in the dissolution of the University, in no other circumstances can any moneys be transferred from the Endowment Fund for other purposes. (4) The income from the Endowment Fund shall be used as a first charge for meeting the deficit, if any, in the maintenance of the General Fund.
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