Objects to which University fund may be applied

The University fund shall be applicable to the following objects:-

1. (a) to the repayment of debts incurred by the University for the purpose of this Act and the Statutes, and the Regulations made thereunder ;
2. (b) to the expenses of any suit or proceedings to which the university is a party;
3. (c) to the payment of the salaries and allowances of the officers and servants of the University, members of the teaching staff and establishment employed in the Colleges and the departments of University for and in furtherance of the purposes of this Act, and the Statutes, and Regulations made thereunder and to the payment of pension or any Provident Fund contribution to any such officers and servants, members of the teaching staff or the members of such establishments;
4. (d) to the payment of the travelling and other allowances of the members of the Board and the Academic Council and any other authority of the University or the members of any Committee appointed by any of the authorities of the University in pursuance of any provisions of the Act and the Statutes, and the Regulations made thereunder;
5. (e) to the payment of fellowships, scholarships, studentships and other awards to students ;
6. (f) to the upkeep of colleges, departments, residences and hostels ;
7. (g) to the payment of the cost of audit of the University Fund ;
8. (h) to the payment of any expense incurred by the University in carrying out the provisions of this Act and the Statutes, and the Regulations made thereunder ; and
   • (i) to the payment of any other expense, not specified in any of the preceding clauses declared by the Board to be the expense for the purpose of the University.