Amendment status not verified — confirm the current text below against the official source.
Development fund.- The 1[University]1 shall also establish a Development Fund to which the following funds shall be credited, namely:- (i) development fees which may be charged from students not prohibited by any law for the time being inforce; (ii) all sums received from any other source for the purposes of the development of the 1[University]1; (iii) all contributions made to the 1[University]1; (iv) all contributions/donations made in this behalf by any other person or body which are not prohibited by any law for the time being in force; and (v) 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 1[University]1.