Expenditure of the University during dissolution

(1) The expenditure for administration of the University during the taking over period of its management under section 54 shall be met out of the permanent endowment fund, the general fund or the development fund. (2) If the funds referred to in sub-section (1) are not sufficient to meet the expenditure of the University during the taking over period of its management, such expenditure may be met by disposing of the properties or assets of the University, by the State Government.