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.

Development Fund

1. (1) The University shall also establish a Development Fund to which the following shall be credited, namely:
   • (a) Development fees which may be charged from students;
   • (b) All sums received from any other source for the purposes of the development of the University;
   • (c) All contributions made by the Sponsor;
   • (d) All contribution/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
   • (e) All incomes received from the endowment fund.
2. (2) The funds crredited to the development fund from time to time shall be utilized for the development of the University.