Provided further that the General Fund shall be applied for the objects specified under sub Section (2) with the approval of the Finance Committee of the University.

Development Fund

1. (1) The University shall also establish a Development Fund to which the following funds shall be credited:
   • (i) . Development fees which may be charged to the students;
   • (ii) . Sums received from any other source for the purposes of the development of the University;
   • (iii) . Contributions made by the Sponsor;
   • (iv) . Contributions or 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
   • (v) . Share of income received from the investment of endowment fund;
2. (2) The funds credited to the Development Fund from time to time shall be utilized for the development of the University.