Provided further that the General Fund shall be applied for the objects specified under this sub-section with the prior approval of the Board of Management of the University.

Development Fund 47.

1. (1) The University shall also establish a Development Fund to which the following amount shall be credited, namely:-
   • (a) all sums received from any other source for the purposes of the development of the University;
   • (b) all contributions made by the Sponsoring Body;
   • (c) all 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
   • (d) subject to the provisions of sub-section
2. (5) of Section 45, incomes received from the Corpus Fund.
   • (e) development fees which may be charged from students;
3. (2) The amount credited to the Development Fund from time to time shall be utilized for the development of the University.