Amendment status not verified — confirm the current text below against the official source.
Expenditure of the University during dissolution.- (1) The expenditure of administration of the University during taking over period of its management under sub-section (3) of section 62 above shall be met out of the Permanent Statutory Endowment Fund, the General Fund or the Development Fund in such manner as may be prescribed. (2) If the fund referred to in sections 50, 51, 52 and 53 are not sufficient to meet the expenditure of the University during the taking over period of its management, such expenditure may be met by the Government by disposing of the properties or assets of the University. (3) Where the dissolution of the University is due to mismanagement or maladministration, the Government is at liberty to identify the persons responsible for such mismanagement or maladministration and to impose penalty as it deems fit.