Expenditure of University during Dissolution

(1) The expenditure for administration of the University during the dissolution of the University under section 53 shall be met out from the permanent endowment fund, the general fund or the development funds (2) If the funds referred to in sub-section (1) are not sufficient to meet the expenditure of the University during the dissolution of the University, such expenditure may be met by disposing of the properties or assets of the University by State Government.