Funds and Finances of the Commission

Education202574 sections11 chapters

Chapter IV INDEPENDENT REGULATORY COMMISSION

Statutory text

(1) The State Government shall provide the Commission with funds as part of the State budget, sufficient to enable the Commission to carry out its duties and functions effectively. Expenses of the Commission, including salaries and other benefits of the Chairperson, Vice-Chairperson, Members, if required, shall be met from such grants or funds.
(2) There shall be established a fund called the Sikkim Private Universities Regulatory Commission Fund to be operated and controlled by the Commission.
(3) All sums received by the Commission under this Act, including fees and charges referred to in sub-section (4), shall be credited to the Fund.
(4) The State Government shall prescribe, by rules, the annual fee payable by every private University and, where applicable, by each private University; the rate or amount of such fee shall be determined by the State Government on the recommendation of the Commission. All fees collected under this sub-section shall be credited to the Fund.
(5) The Fund shall be utilized exclusively for meeting the expenses of the Commission other than the expenses referred to in sub-section
(1) or as approved by the Commission. No part of the Fund shall be diverted for any purpose other than the functioning of the Commission.
(6) The Commission shall maintain proper accounts of receipts and expenditures of the Fund in such form and manner as may be prescribed by the State Government.

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