Sponsored Schemes.

Whenever the University receives funds from any Government, the University Grants Commission or other agencies sponsoring a scheme, to be executed by the University, notwithstanding anything contained in this Act or the regulations— (i) the amount received, shall be kept by the University separately from the University Fund and utilised only for the purpose of the scheme ; and (ii) the staff required to execute the scheme, shall be recruited in accordance with the terms and conditions stipulated by the sponsoring organization.