Preamble

LAW (LEGISLATIVE DRAFTING) DEPARTMENT (GROUP -II) NOTIFICATION Jaipur, September 22, 2011

No.F.2 (26) Vidhi/2/2011.-In pursuance of Clauses (3) of Article 348 of the Constitution of India, the Governor is pleased to authorise the publication in the Rajasthan Gazette of the following translation in the English language of the I.C.F.A.I. Vishwavidhyalaya, Jaipur Adhiniyam, 2011 (2011 ka Adhiniyam Sankhyank 26):-

(Authorized English Translation) THE ICFAI UNIVERSITY, JAIPUR ACT, 2011 (ACT NO. 26 of 2011)

(Received the assent of the Governor on the 21st day of September, 2011)

An Act

to provide for establishment and incorporation of the ICFAI University, Jaipur in the state of Rajasthan and matters connected therewith and incidental thereto.

Whereas, with a view to keep pace with the rapid development in all spheres of knowledge in the world and the country, it is essential to create world level modern research and study facilities in the State to provide state of the art educational facilities to the youth at their door steps so that they can make out of them human resources compatible to liberalized economic and social order of the world;

And whereas, rapid advancement in knowledge and changing requirement of human resources makes it essential that a resourceful and quick and responsive system of educational research and development be created which can work with entrepreneurial zeal under an essential regulatory set up and such a system can be created by allowing the private institutions engaged in higher education having sufficient resources and experience to establish universities and by incorporating such universities with such regulatory provisions as ensure efficient working of such institutions;

And whereas, *ICFAI Society, Hyderabad is a Public Trust registered under the Andhra Pradesh (Telangana areas) Public Societies Registration Act, 1350 Fasli (Act I of 1350 F) in the office of Registrar of Societies, Hyderabad vide Registration No. 1602 of 1984 dated 20-10-1984.

And whereas, the said *ICFAI Society, Hyderabad has set up educational infrastructures, both physical and academic, as specified in Schedule I, at Village Jamdoli, Tehsil Jaipur, District, Jaipur in the state of Rajasthan and has agreed to invest the said infrastructure in a University for research and studies in the disciplines specified in Schedule II and has also deposited an amount of rupees two crores to be utilized in establishment of an endowment fund in accordance with provision of this Act;

And whereas, the sufficiency of the above infrastructure has been got enquired into by a committee, appointed in this behalf by the State Government consisting of the Vice-chancellor. University of Rajasthan, Jaipur. Commissioner. College Education Rajasthan, Jaipur. Dean, Faculty of Law, University of Rajasthan. Jaipur, Director, Malviya National Institute of Technology. Jaipur and Dean, Faculty of Education, University of Rajasthan, Jaipur;

And whereas, if the aforesaid infrastructure is utilized in incorporation as a University and the said *ICFAI Society, Hyderabad is allowed to run the University, it would contribute in the academic development of the people of the state;

Now, therefore, be it enacted by the Rajasthan State Legislature in the Sixtysecond Year of the Republic of India, as follows:-