Approval of transfer of permission

(1) (a) Whenever there is any change in the constitution of the educational agency in relation to a private college, not being a minority college, that agency shall apply to the competent authority for approval of such change. (b) Whenever the management of any private college is proposed to be transferred, the educational agency and the person to whom the management is proposed to be transferred may, before such transfer, apply jointly to the competent authority for approval of the transfer. (c) On any transfer of the management of private college, without approval having been obtained for such transfer under clause (b), the transferee shall, if he desires to run it as such, apply to the competent authority within such period as may be prescribed for approval of the transfer. (d) An application under clause (a), clause (b) or clause (c) shall be in such form and contain such particulars as may be prescribed. (2) On receipt of an application under sub-section (1), the competent authority shall— (a) if it is satisfied, after making such inquiry as it deems fit, that the educational agency will continue to maintain and manage or, as the case may be, that the transferee will maintain and manage the private college in accordance with the provisions of this Act, and the rules made thereunder, approve the change or, as the case may be, the transfer, subject to such conditions as it may impose; and (b) communicate its decision to the applicant within such period as may be prescribed.