University fund

(1) The University shall establish, maintain and administer a fund to be called the University fund.

1. (2) The following moneys shall form part of, and be paid into, the University fund, namely:-
   • (a) any contribution or grant by the State Government;
   • (b) income arising to the University from all sources including income from fees and charges;
   • (c) trusts, bequests, donations, endowments and other grants, if any; and
   • (d) such other money as may be prescribed by the Statutes.
2. (3) The matters to which the fund may be applied and appropriated shall be those prescribed by this Act or the Statutes.
3. (4) All expenses incurred under and in pursuance of any provision contained in this Act shall be met out of the University fund.
4. (5) The University shall have power to borrow, on the security of the University properties and with the concurrence of the State