Vidhi Codex

The Institute of Chartered Financial Analysts of India University (Establishment and Regulation) Act, 2011

The Institute of Chartered Financial Analysts of India University (Establishment and Regulation) Act, 2011

Education201145 sections

This Act establishes the Institute of Chartered Financial Analysts of India (ICFAI) University in Solan, Himachal Pradesh, providing the legal framework for its incorporation, governance, and operational standards. The Act mandates that the university must be self-financed, prohibiting it from receiving government grants or affiliating other colleges. It outlines the powers of university officers, the composition of governing bodies, and strict rules regarding admissions, fee structures, and examinations. Furthermore, the legislation empowers the state government to inspect the university, ensure academic standards, and intervene in cases of mismanagement or financial irregularities to protect the interests of students and the public.

Start reading →Read full ActSections
  1. 1. Short title and commencement
  2. 2. Amendment of section 38
  3. 3. The objects of the University
  4. 4. Incorporation
  5. 5. Powers and functions of the University
  6. 6. University to be self-financed
  7. 7. No power of affiliation
  8. 8. Endowment Fund
  9. 9. General Fund
  10. 10. Application of General Fund
  11. 11. Officers of the University
  12. 12. The Chancellor
  13. 13. The Vice-Chancellor
  14. 14. Provided that before taking action under this sub-section, the Vice-Chancellor shall be given an opportunity of being heard.
  15. 15. The Chief Finance and Accounts Officer
  16. 16. Other officers
  17. 17. Authorities of the University
  18. 18. The Governing Body
  19. 19. The Board of Management
  20. 20. The Academic Council
  21. 21. Other authorities
  22. 22. Disqualifications
  23. 23. Vacancies not to invalidate the proceedings of any authority or body of the University
  24. 24. Filling of casual vacancies
  25. 25. Committees
  26. 26. The first statutes
  27. 27. The subsequent statutes
  28. 28. The first ordinances
  29. 29. The subsequent ordinances
  30. 30. Regulations
  31. 31. Admissions
  32. 32. This shall be applicable till the first batch of final year students are admitted.
  33. 33. Examinations
  34. 34. Declaration of results
  35. 35. Convocation
  36. 36. Accreditation of the University
  37. 37. University to follow rules, regulations, norms etc. of the regulating bodies
  38. 38. Annual report
  39. 39. Annual accounts and audit
  40. 40. Powers of the Government to inspect the University
  41. 41. Dissolution of the University by the sponsoring body
  42. 42. Special powers of the Government in certain circumstances
  43. 43. Power to make rules
  44. 44. Power to remove difficulties
  45. 45. Repeal of H.

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