Amendment status not verified — confirm the current text below against the official source.
Development fund.- (1) The University shall establish a Development Fund to which the following funds shall be credited, namely:- (i) all sums received from any other source for the purposes of the development of the University; (ii) all contributions made by the University; and 22 (iii) all contributions or donations made in this behalf by any other person or body; which are not prohibited by any law for the time being in force; (iv) all incomes received from the Permanent Statutory Endowment Fund. (2) The funds credited to the Development Fund from time to time shall be utilized for the development of the University.