Amendment status not verified — confirm the current text below against the official source.
(I) The University shall establish and maintain a Fund 10 be called the University Fund consisting of- (i) any contribution or grants or loans by the State and the Central Government; (ii) the income of tbe University from all sources including income from fees and other charges; (iii) all moneys received by the University by way of grants, loans, gifts, donations, benefactions, bequests, transfers or endowme1\!s and other grants, if any; (iv) all moneys received by the University from the collaborating industry in terms of the provisions of the Memorandum of Understanding entered between the University and the industry, for establishment of the sponsored chairs, fellowships or infrastructure facilities of the University; and (v) tl1e moneys received by tl1e University in any other manner or from any other sources. (2) All moneys credited to the fund of the University shall be deposited in such Banks or the surplus fund shall be invested in such maimer as 17-1 7 17-18 38 of 1949. GUJARAT GOVERNMENT GAZETTE, EX. 08-10-2018 [PART IV the Board, on the recommendation of the Finance Committee, decide~ from time to time. (3) The University Fund shall be applied towards the expenses of the University including expenses incurred in the exercise of its powers and discharge of its functions under this Act. (4) No money froJ\1 the Universit)' shall be spent except as otherwise provided for meeting its objectives.