Amendment status not verified — confirm the current text below against the official source.
Establishment and Incorporation of the University.– (1) There shall be established in the State of Karnataka the University of Visvesvaraya College of Engineering, Bengaluru, a non-affiliating university for the furtherance of the objects of the University set out in section 4. The objects of the University are such as to make it an Institution of State Eminence. (2) The University shall be a body corporate by the name aforesaid, having perpetual succession and a common seal with powers, subject to the provisions of this Act, to acquire and hold property, to contract, and to do such other things necessary for the purpose of this Act and shall, by the said name, sue and be sued. (3) All suits and other legal proceedings instituted by or against the existing of the University Visvesvaraya College of Engineering, Bengaluru immediately before the commencement of this Act, shall be continued by or against the University, as the case may be. The pleadings for such suits and legal proceedings shall be signed and verified by the Registrar and all the processes in such suits and proceedings shall be issued to, and served on, the Registrar. (4) The headquarters of the University shall be at Bengaluru. (5) On and from the date of commencement of this Act,– (i) any reference to the University (UVCE) in any contract or other instrument in respect of properties of the University Visvesvaraya College of Engineering, Bengaluru shall be deemed as a reference to the University (UVCE); (ii) all properties, movable and immovable, including the two campuses of the University situated at K.R. Circle, Dr. Ambedkar Veedhi, Bengaluru-560001 and Jnana Bharathi Campus, Bangalore University, Bengaluru belonging to or has been earmarked to the existing University Visvesvaraya College of Engineering, Bengaluru shall vest in the University (UVCE). (iii) all rights, debts and other liabilities of the University Visvesvaraya College of Engineering, Bengaluru shall be transferred to, and be the rights and liabilities of the University (UVCE); and (iv) all officers and employees employed in the University Visvesvaraya College of Engineering, Bengaluru immediately before the date of commencement of this Act shall, subject to the provisions of this Act, hold their office or service in the University with the same tenure at the same remuneration and upon the same terms and conditions and with the same rights and privileges as to pension, leave, gratuity, provident fund and other matters as they would have held had this Act not been enacted and shall continue to do so unless and until their employment is terminated or until such tenure, remuneration and the terms and conditions are duly altered by the Regulations, or be given an option to transfer their services and shall exercise such power and perform such duties as are conferred upon them by or under this Act; (6) The establishment of the University shall be a non-profit making institution and the University shall not transfer directly or indirectly the whole or any part of the income or any movable or immovable property of the University to any person or to give any person any right to assume power directly or indirectly over the whole or any part of the income or any movable or immovable property of the University.