Amendment status not verified — confirm the current text below against the official source.
Substitution of section 40.- For section 40 of the principal Act, the following shall be substituted, namely:- "40. Management of Funds.- All the funds of the university shall be managed in such manner as may be prescribed by the statutes: Provided that the State Government may also issue directions from time to time regarding the management and utilisation of funds. The directions of the State Government shall be final."