Vidhi Codex

section 42

Funds and grants

Dr. Yashwant Singh Parmar University of Horticulture and Forestry, Solan Act, 1985
Environmental198557 sections
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Statutory text
  1. (1) General Fund.--The University shall have a General Fund to which shall be credited--
    • (i) income from fees, endowments, grants and from properties of the University including hostels, experimental stations and farms;
    • (ii) contribution or grants which shall be made by the Government, on such conditions as it may impose;
    • (iii) grants, donations and benefactions; and
    • (iv) other receipts.
  2. (2) Foundation Fund.--(i) The University shall form a fund called the Foundation Fund from contributions and grants made by the Central and State Governments for being credited to the fund and such other sums from the University which may be credited to the said fund.
    • (ii) The moneys in the Foundation Fund shall be invested in the securities mentioned or referred to in clauses
    • (a) to
    • (d) of section 20 of the Indian Trusts Act, 1882 (2 of 1882).
      • (iii) It shall be competent for the University, in furtherance of its objectives, to accept grants from the Government of Himachal Pradesh or any other State Government or the Central Government or statutory bodies, endowments or donations under such conditions as may be agreed upon between the University and the grantor or donor.
  3. (3) Management of other funds.--The General Fund, Foundation Fund and other funds of the University shall be managed according to such provisions as may be laid down by the Statutes.
  4. (4) Government Grants.--Subject to availability of funds, the State or Central Government shall every year make non-lapsable lump sum grants to University as follows:--
    • (a) a grant not less than the net expenditure incurred in the Solan Agricultural Complex of Himachal Pradesh Krishi Vishva Vidyalaya on such of the activities of the institution of the horticulture and forestry and other Government departments as were transferred either to the Himachal Pradesh University or the Himachal Pradesh Krishi Vishva Vidyalaya and be transferred to the University from time to time;
    • (b) a grant not less than the estimated net expenditure of pay and allowances of the contingencies, supplies and services of the University other than in respect of the activities in institution referred to in clause (a); and
    • (c) an annual increase in grant to meet such additional items of expenditure, recurring and non-recurring, as per requirements of the University on account of new schemes and programmes, revision of scales, increments, increase in dearness and other allowances.

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