section 31
Permanent Endowment Fund
The Madras School of Economics Act, 2020Education202049 sections10 chapters
Chapter VIII FUNDS
Statutory text
- (1) The Institute shall establish a permanent endowment fund of at least rupees twenty fi ve crores.
- (2) The Institute shall have the power to invest in the permanent endowment fund in such manner as may be prescribed.
- (3) The Institute may transfer any amount from the general fund or the development fund to the permanent endowment fund.
- (4) Any amount exceeding the minimum amount specifi ed in sub-section
- (1) may be withdrawn from the permanent endowment fund by the Institute for the purpose of development of the Institute.
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