Amendment status not verified — confirm the current text below against the official source.
Permanent Statutory Endowment Fund.-(1)The 1[University]1 shall establish a Permanent Statutory Endowment Fund of at least rupees twenty-five crores which may be increased suo moto but shall not be decreased. (2) The 1[University]1 shall have power to invest the permanent Statutory Endowment Fund in such manner as may be prescribed. (3) The 1[University]1 may transfer any amount from the General Fund or the Development Fund to the permanent Statutory Endowment Fund. Excepting in the dissolution of the 1[University]1, in no other circumstances can any moneys be transferred from permanent Statutory Endowment Fund for other purposes. (4) Seventy five percent of the incomes received from permanent Statutory Endowment Fund shall be used for the purpose of development or general work of the 1[University]1. The remaining twenty five percent shall be reinvested in the permanent Statutory Endowment Fund.