Establishment of the University

(1) There shall be a University by the name of "Khangchendzonga Buddhist University". (2) The university shall be a body corporate having perpetual succession and a common seal and shall sue and be sued by the said name. (3) Sponsoring body will provide for: (a) a minimum of 10 acres of contiguous land to the University on a free-hold basis; (b) required infrastructure in compliance with the minimum requirements specified by applicable regulatory bodies for the specific programs offered by the University; (c) a deposit of Rs. 1 (one) crore with the secretary, Education Department, Government of Sikkim; (d) appoint the required number of faculty and staff members in each department or discipline to be started by the University, as per the norms of applicable regulatory bodies for the programs offered by the University; (e) purchase adequate equipments, computers, furniture, other moveable and immoveable assets and infrastructure facilities (other than buildings, referred to in clause (b) of sub-section (3) of section 3 above) as per the norms of applicable regulating bodies; (f) purchase adequate number of books and journals as per the norms of regulating bodies, so as to make the library facilities adequate for contemporary teaching and research; and (g) undertake co-curricular activities like seminars, debates, quiz programs and extra-curricular activities like games, sports, National service scheme, for the benefit of students as per the norms laid down by the regulating bodies. (4) on the establishment of the University, the land and other movable and immovable properties acquired, created, arranged or built for the purpose of the university shall vest in the University. The land, building and other properties acquired for the University shall not be used for any purpose other than that for which the same is acquired. (5) (a) The sponsoring Body shall set-up the Authorities and prepare the regulations as per Transitory Provisions in section 41; and (b) upon its creation, the Board of Governors shall be the supreme authority of the University.