Development fund.- The

1[University] shall also establish a Development Fund to which the following funds shall be credit ed, namely:-

1. (i) development fees which may be charged from students not prohibited by any law for the time being inforce;
2. (ii) all sums received from any other source for the purposes of the development of the 1[University] ;
3. (iii) all contributions made to the 1[University] ;
4. (iv) all contributions/donations made in this behalf by any other person or body which are not prohibited by any law for the time being in force; and
5. (v) incomes received from the Permanent Statutory Endowment Fund.

1. (2) The funds credited to the Development Fund from time to time shall be utilized for the development of the 1[University] .

¹ Substituted by Act 13 of 2018 w.e.f 17.03.2018.