Endowment Fund

Education200551 sections6 chapters

Chapter 6 Miscellaneous

Statutory text

(1) The University shall establish an endowment fund of at least Rupees one crore. (2) The University shall have power to invest the endowment fund in such manner as may be prescribed. (3) The University may transfer any amount from the general fund or the development fund to the endowment fund. Excepting in the dissolution of the University, in no other circumstances can any moneys be transferred from the endowment fund for other purpose. (4) Not exceeding 75 of the incomes received from the endowment fund shall be used for the purposes of development works of the University. The remaining 25shall be reinvested into the endowment fund.

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