Resolution by Trust for winding up of the University

(1) If the Trust passes a resolution to the effect that it is not possible for the University to function due to financial or any other reason, the same shall be submitted to the Governor of Punjab for approval. (2) On receipt of the resolution referred to in sub-section (1), the Governor shall decide on the resolution within a period of three months from its receipt, and on approval of the Governor, the Trust shall proceed to wind up the University. (3) In the event of winding up of the University, the Trust shall follow such procedure, as may be prescribed. (4) Notwithstanding anything contained in this section, the University shall continue to function, unless and until, all the courses to which the University has enrolled the students, are completed or for three years whichever is earlier.