Amendment status not verified — confirm the current text below against the official source.
(1) On the commencement of this Act, the assets and liabilities of the existing university relating to Veterinary, animal sciences and fishery Power of State Government to direct audit. Transfer of College, institution and employees to University. Division of assets and liabilities. LALA LAJPAT RAI UNIVERSITY OF VETERINARY AND ANIMAL SCIENCES HISAR sciences, shall stand transferred to, and shall vest in the University in accordance with the following principles, namely:— (a) any asset of existing university, which immediately before the commencement of this Act, is related to Veterinary, animal sciences, fishery sciences and disease free small animal house, including agricultural land used for fodder or feed production, dairy and poultry farms, fisheries and every right to such property, shall stand transferred to, and shall vest in the University; (b) the land of the experimental area of the existing university, adjoining the Immunology (Tick Borne Diseases) building shall stand transferred to the University. Explanation.—For the purposes of this section, “asset” shall be deemed to include all property movable and immovable, rights, powers, authorities and privileges, and all other rights and interests arising out of such property, as were immediately before the commencement of this Act, in the ownership, possession, power or control of existing university, and all books of accounts, registers, records and all other documents of whatever nature relating thereto, shall also be deemed to include all obligations of whatever kind then subsisting, of the existing university.