Establishment of the University in Public-Private Partnership Mode by the State Government and Implementing Partner

8.

1. (1) The State Government and the Implementing Partner shall be bound by the Contract Agreement, executed on 6th day of April 2021, which shall govern the nature of the partnership between them. All terms and conditions, and roles and responsibilities of the State Government and the Implementing Partners during the contract period shall be determined by the Contract Agreement.
2. (2) Pursuant to the Contract Agreement, the State Government and the Implementing Partner shall form a Society, NSBUoE-SIBIN Society, under the Sikkim Regulations of Societies, Associations and Other Voluntary Organizations Act, 2008 (Act No. 20 of 2008) and the Memorandum of Association which shall contain inter-alia the aims and object of the Society and its members which shall be in the ratio of 1:2 from the State Government and the Implementing Partner respectively.