section 53
University Fund
Maharaja Krishnakumarsinhji Bhavnagar University Act.Year 1978Education197886 sections13 chapters
Chapter X FINANCE
Statutory text
- (1) The university shall establish a fund to be called the University Fund.
- (2) The following shall form part of, or be paid into the University Fund :,
- (a) any contribution or grant by the State Government, the Union Government, or the University Grants Commission,
- (b) the income of the University from all sources including income from fees and charges,
- (c) bequests, donations, endowments and other grants, if any,
- (d) any sum borrowed from the Banks with the permission of the State Government.
- (3) The University Fund shall be kept in any corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, or Scheduled Bank as defined in the Reserve Bank of India Act, 1934, or in a co-operative bank approved by the State Government for the purpose or invested in securities authorised by the Indian Trusts Act, 1882, at the discretion of the Executive Council.
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