Chapter V FINANCES

Education202668 sections15 chapters

Chapter V FINANCES

34. (1) The University shall establish a fund to be called the University fund.

Statutory text

(2) The following shall form part of or be paid into the University fund,-
- (a) any rent, contribution or grant by Central or State Government or any body corporate;
- (b) trusts, bequests, donations, endowments and other grants, if any;
- (c) the income of the University from all sources including income from fees and charges;
- (d) all other sums received by the University.
(3) The University Fund shall be kept in any Scheduled Bank as defined in the Reserve Bank of India Act, 1934 (No. 2 of 1934) or invested in securities authorized by the Indian Trusts Act, 1882 (No. i of 1882), at the discretion of the Executive Council.
(4) Nothing in this section shall, in any way, affect any obligations accepted by or imposed upon the University by any declaration of trust executed by or on behalf of the University for the administration of any trust.

Chapter V FINANCES

Statutory text

(1) The University Fund shall be applicable to the following objects and in the following order :-
- (a) to the repayment of debts incurred by the University for the purpose of this Act and the Statutes, Ordinances and Regulations made thereunder;
- (b) to the upkeep of colleges, teaching departments and schools of studies established by the University, residences and hostels;
- (c) to the payment of the cost of audit of the University

PDF: pending for this language.