Amendment status not verified — confirm the current text below against the official source.
(I) The University shall have the General Fund. The Uninnity funds. following shall form part of, or be paid into, the University Fund:- (a) the income from fees, endowments and grants and the income from properties of the University including hostel, experimental stations and farms; (b) any contribution and grants made by the State Govemmcnt on such conditions as are consistent with the provision of this Act; (c) other contributions, grants, donations, benefactions and loans and oilier receipts. (2) The University shall form a fund called the Foundation Fund from contributions and grants made by the Central Govemmem or the State Government or approved agency for being credited 10 that fund and such other sums as may be specified by the Board 10 this fund. The Board may, as and when necessary, retransfer such amount as may be specified, from the Foundation Fund to the General Fund, in the manner as may be pre.scribed. (3) The University shall furnish statement of accounts, reports and other particulars to the State Government relating to any grant made by the Government and shall take such action and furnish such statements, accounts, reports and other particulars relating to the utilization of any grant wiihin such time and manner as the State Government may direct. (4) The University may, in furtherance of its objectives, to accept the grants from the State Government or any other State Government or the Central Government or Statutory Bodies or endowments or donations under such conditions as may be agreed upon between the University and the granter or donor. 16-36 GUJARAT GOVERNMENT GAZETTE, EX. 3·04·2017 [PART [V Aflina~emcnl