Vidhi Codex

The Madras School of Economics Act, 2020

The Madras School of Economics Act, 2020

Education202049 sections10 chapters

The Madras School of Economics Act, 2020, formally establishes the Madras School of Economics in Chennai as an autonomous body corporate. The Act empowers the Institute to function as a center of excellence for teaching, research, and policy advocacy in economics and management. It outlines the governance structure, including the Governing and Executive Councils, and defines the powers of officers like the Director. For citizens and students, the Act ensures standardized admission processes, including specific reservations for Tamil Nadu residents, and establishes clear financial and academic accountability. It provides a legal framework for the Institute's operations, ensuring it maintains high educational standards while remaining accountable to the State Government.

Start reading →Read full ActSections

Chapter I PRELIMINARY →

  1. 1Short title and commencement
  2. 2Definitions

Chapter II THE INSTITUTE →

  1. 3Incorporation of Institute
  2. 4Objects of Institute
  3. 5Powers and functions of Institute
  4. 6Grants
  5. 7Provided that the Government may sanction grant-in-aid or other financial assistance for any specific purpose, as it may deem necessary.
  6. 8Admission to examinations

Chapter III OFFICERS OF INSTITUTE →

  1. 9Officers of Institute
  2. 10Director
  3. 11Arrangement of work during vacancy in office of Director
  4. 12Administrative Officer
  5. 13Controller of Examinations
  6. 14Finance Officer
  7. 15The Dean
  8. 16Other Officers

Chapter IV AUTHORITIES OF THE INSTITUTE →

  1. 17Authorities of Institute
  2. 18Governing Council
  3. 19Executive Council
  4. 20The Academic Council
  5. 21Finance Committee
  6. 22Planning Board
  7. 23Other Boards, committees and councils

Chapter V STATUTES AND ORDINANCES →

  1. 24Power to make Statutes
  2. 25Statutes, how made
  3. 26A copy of the statutes shall be sent to the Government for information.

Chapter VI FINANCE AND ACCOUNTS →

  1. 27Annual report
  2. 28Annual accounts

Chapter VII EMPLOYEES →

  1. 29Conditions of service of employees
  2. 30Employees provident fund and pensions

Chapter VIII FUNDS →

  1. 31Permanent Endowment Fund
  2. 32General Fund
  3. 33Development Fund
  4. 34Maintenance of Fund

Chapter IX DISSOLUTION OR DE-RECOGNITION OF THE INSTITUTE →

  1. 35Dissolution of Institute
  2. 36Expenditure of Institute during dissolution
  3. 37De-recognition of Institute by Government
  4. 38Status of assets, liabilities on dissolution or de-recognition

Chapter X MISCELLANEOUS AND TRANSITORY PROVISIONS →

  1. 39Transitory provisions
  2. 40Indemnity
  3. 41Power of Government to call for information and records
  4. 42Power of the Government to issue directions on policy matters
  5. 43Such directions shall be complied with by the Institute.
  6. 44Constitution of committees
  7. 45Filling up of vacancies
  8. 46Proceedings of authorities and bodies not to be invalidated by vacancies
  9. 47Removal from membership of Institute
  10. 48Mode of proof of records of Institute
  11. 49Power to remove difficulties

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