Sponsored scheme.

Notwithstanding anything in this Act or the regulations, whenever the University receives funds from any Government, the University Grants Commission or other agencies sponsoring a scheme to be executed by the University,- (a) the amount received shall be kept by the University in a separate account and shall be utilised for the purpose of the scheme only; and (b) the staff required to execute such scheme shall be recruited in accordance with the terms and conditions stipulated by the sponsoring organisation.