Provided further that no such transfer as in the first proviso shall be made once a resolution or an Act for dissolving the University has been passed.

General Fund General Fund

1. (1) The University shall also set up a General Fund into which the following shall be credited:
   • (i) Contributions and grants made by the Trust;
   • (ii) Contributions and grants made by the Government of Nagaland;
   • (iii) Contributions and grants made by the University Grants Commission;
   • (iv) Contributions and grants made by the Central Government;
   • (v) Contributions and grants made by other organizations in India and abroad, subject to laws in force;
   • (vi) Bequests, donations, endowments or other grants made by private individuals and organizations;
   • (vii) Income received by the University on account of fees and other charges; and
   • (viii) Amounts received from any other source.
2. (2) The funds shall be deposited in banking institution or held in shares, securities, debentures or in any other form as may be determined by regulations and as far as possible they may be held in such form which does not pose serious risks.
3. (3) The funds shall be operated exclusively for the purposes of the University in such manner as may be prescribed by regulations.