Assets and liabilities

Assets and liabilities.--(1) The assets and liabilities of the Kashmir Division and the Jammu Division of the University of Jammu and Kashmir existing immediately before the commencement of this Act, shall be the assets and liabilities of the University of Kashmir and the University of Jammu respectively.

1. (2) The assets and liabilities of the Central Office of the University of Jammu and Kashmir, existing immediately before the commencement, shall be apportioned between the University of Jammu and the University of Kashmir in such manner as the Chancellor in consultation with the Pro-Chancellor may determine.