Recognition of Institutions other than Colleges.

(1) Any institution situated within or outside the University area, which conducts specified research or studies may be recognized by the Board of Management as a recognized institution for such purpose and in such manner and subject to such conditions, as may be prescribed by the statutes. (2) Any such recognition may be withdrawn either in whole or in parts or may be modified in such manner and for such reasons, as may be prescribed by statutes.