Universities shall be as per the regulations of the National Accreditation Bodies.

Powers of the sponsoring body.- The sponsoring body shall have the following powers with reference to the University, each of which may be exercised by the Sponsoring Body at its discretion, namely:- (i ) to appoint or re-appoint or terminate the appointment of the Chancellor; (i i ) to constitute the first Board of Governors of the University;

1. (iii) to nominate the chairperson of the Board of Governors; (i v) to nominate three persons as members of the Board of Governors;
2. (v) to nominate two persons as members of the Board of Management; (vi ) to determine the source of funds to be contributed to the University Endowment Fund; (vi i ) to determine the application and spending of moneys by the University;
3. (viii) to resolve any Conflict at the meeting of the Board of Governors in the manner provided for in this Act. CHAPTER - III OFFICERS OF THE UNIVERSITY