Vidhi Codex

Bare Act

The Institute of Chartered Financial Analysts of India University (Nagaland) Act, 2006

Education200351 sections

This Act provides the legal framework for establishing the Institute of Chartered Financial Analysts of India (ICFAI) University in Nagaland. It authorizes the ICFAI society to set up a private, self-financed university, requiring an initial endowment fund of one crore rupees. The Act outlines the governance structure, including the roles of the Visitor (Governor of Nagaland), Chancellor, and Vice-Chancellor, and establishes various bodies like the Board of Governors and Academic Council. It mandates that the university must adhere to UGC and other national accreditation standards. Crucially, the university operates without state financial aid, ensuring it remains a private, autonomous institution.

Start reading →Read full ActSections
  1. 1. Short title and Commencement
  2. 2. Definitions
  3. 3. Establishment of University
  4. 4. Exclusion of grant-in-aid
  5. 5. Constituent colleges, etc
  6. 6. Objectives of the University
  7. 7. Powers of the University
  8. 8. University open to all classes, castes etc
  9. 9. Provided that nothing in this section shall be deemed to prevent the University from making special provisions for admission in favour of students from the State of Nagaland.
  10. 10. Officers of University
  11. 11. The Visitor
  12. 12. The Chancellor
  13. 13. The Vice-Chancellor
  14. 14. Deans of Faculties
  15. 15. Registrar
  16. 16. Finance Officer
  17. 17. Other Officers
  18. 18. Authorities of University
  19. 19. Board of Governors and it's powers
  20. 20. Board of Management
  21. 21. Academic Council
  22. 22. Finance Committee
  23. 23. Other Authorities
  24. 24. Proceedings not invalidated on account of vacancy
  25. 25. Statutes
  26. 26. Making of Statutes
  27. 27. Power to amend Statutes
  28. 28. Rules
  29. 29. Making of Rules
  30. 30. Power to amend Rules
  31. 31. Conditions of service of employees
  32. 32. Disciplinary procedure
  33. 33. Right to appeal
  34. 34. Provident fund and pension
  35. 35. Disputes as to constitution of University Authorities and Bodies
  36. 36. Contitution of committees
  37. 37. Filling of casual vacancies
  38. 38. Protection of action taken in good faith
  39. 39. Transitional Provisions
  40. 40. Endowment Fund
  41. 41. General fund
  42. 42. Provided further that the General fund shall be applied for the objects specified under sub section (2) with the prior aspproval of the Board of Management of the University.
  43. 43. Maintenance of Fund
  44. 44. Annual Report
  45. 45. Account and audit
  46. 46. Mode of proof of University record
  47. 47. Dissolution of University
  48. 48. Expenditure of University during dissolution
  49. 49. Laying of Statutes and Rules
  50. 50. Removal of difficulties
  51. I. SCHEDULE

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