Amendment status not verified — confirm the current text below against the official source.
Inserted vide H.P. Act No. 20 of 2011. THE INDUS INTERNATIONAL UNIVERSITY (ESTABLISHMENT AND 11 REGULATION) ACT, 2009 associates or trainees, as the case may be, or to any student otherwise eligible for such awards under the statutes, ordinances, regulations or rules made under this Act; (h) for the payment of the cost of audit of the funds created under sections 8 and 9 of this Act; (i) for the meeting of expenses of any suit or proceedings to which University is a party; (j) for the purpose of movable and immovable assets; (k) for the payment of any expenses incurred by the University in carrying out the provisions of this Act or the statutes, ordinances, regulations or rules made thereunder; and (l) for the payment of any other expenses as approved by the Board of Management to be an expense for the purposes of the University: Provided that no expenditure shall be incurred by the University in excess of the limits for total recurring expenditure and total non-recurring expenditure for the year, as may be fixed by the Board of Management, without its prior approval: Provided further that the General Fund shall, for the purpose specified under sub-clause (e), be applied with the prior approval of the Governing Body: 1[Provided further that no portion of income and property of the University shall be paid or transferred directly or indirectly, by way of dividend, bonus or otherwise, howsoever, by way of profit to the persons who were at any time or are members of the University or to any of them or any person claiming through them; provided that nothing herein contained shall prevent the payment in good faith of remuneration to any member thereof or other person as consideration for any service rendered to the University or for travelling or other allowances and such other charges.]