Development Fund

(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 (5) of Section 45, incomes received from the Corpus Fund. (e) development fees which may be charged from students; (2) The amount credited to the Development Fund from time to time shall be utilized for the development of the University.