Development fund

(1) The University shall also establish a Development Fund to which the following shall be credited, namely: (a) Development fees which may be charged from students; (b) All sums received from any other source for the purposes of the development of the University; (c) All contributions made by the Sponsor; (d) All contributionsidonations made in this behalf by any other person or body which are not prohbited by any law for the time being in force; and (e) All incomes received fiom the endowment fund. (2) The funds credited to the development fund h m time to time shall be utilized for the development ofthe University.