The University Fund

The University Fund.

1. (1) The University shall establish a fund to be called the University Fund.
2. (2) The following shall form or be paid into the University Fund:—
   • (a) all contributions or grants by the State Government, the University Grants Commission, or the Central Government;
   • (b) the income of the University from all sources including income from fees and charges;
   • (c) all moneys received by the University by way of grants, loans, advances, donations, gifts, benefactions, bequests or transfers;
   • (d) all other moneys received by the University.
3. (3) The University Fund shall be kept in the State Bank of India or in any corresponding new bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 or any other scheduled bank or in a co-operative bank approved by the State Government for the purpose.
4. (4) The University Fund shall be applied for the purposes of this Act and in accordance with the Statutes, Ordinances and Regulations.