Amendment status not verified — confirm the current text below against the official source.
(1) The University shall also establish a Development Fund to which the following funds shall be credited namely: (a) Development fees which may be charged from students; (b) All sums received from any source for the purposes of the development of the University; (c) All contributions made by the Sponsor; (d) 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 (e) All incomes received from the endowment fund; (2) The funds credited to the Development Fund from time to time shall be utilized for the development of the University