Amendment status not verified — confirm the current text below against the official source.
(1) In this Act, unless the context otherwise requires: (i) "Academic Council" means the Academic Council of the University; (ii) "AICTE means the All India Council for Technical Education established under the All India Council for Technical Education Act, 1987; (iii) "Affiliated College" means a college or an institution which is &liated to the University; (iv) "Annual Report" means the Annual report of the University; (v) "Board of Governorsnmeans the Board of Governors of the University; (vi) "Board of Management" means the Board of Management of the University; (vii) "Chancellor" means Chancellor of the University; (viii) "Constituent College" means a college or an institution maintained by the University; (ix) "Development Fund" means the Development Fund of the University; (x) "Distance Education System" means the system of imparting education through any means of information technology and communication such as multimedia, broadcasting, telecasting, online over internet, other interactive methods, e-mail, internet, computer, interactive talk back e-learning, correspondence course, seminar, contact program or a combination of any two or more of such means; (xi) "Endowment Fund" means Endowment Fund of the University; (xii) "Employee" means employee appointed by the University and includes teachers and other staff of the University or of a constituent college; (xiii) "Faculty" means faculty ofthe University; (xiv) " F i e Officer7'means Finance Officer ofthe University; (xv) "General Fund" means General Fund of the University; (xvi) "Prescribed means prescribed by the StatuteslRules of the University; (xvii)'Principal" in relation to a constituent college, means the Head of the constituent - college and includes, where there is no Principal, the Vice-principal or any other person for the time being appointed to act, or function as Principal; (xviii) "Regional Centre" means acenter establisbedorrnaintained by the University for the purpose of co-ordinating and supe~isingthe work of Study Centres in any region and for performing such other functions as may be conferred on such center by the Board ofmanagement; (xix) "Regisbz"means Registrar of the University; (xu) "Ru1es"meansthe Rules of the University; (xxi) "Sponsor" means the Institute of Chartered Financial Analysts of India, which is registered as a Society under the Andhar Pt-adesh (TelanganaAreas) Public Societies RegistrationAct, 1350 Fasli (Act 1 of 1350 F) at Hyderabad, Andhar Pradesh (registration No. 1602 dated 20& October, 1984); (xxii)"State3' means the State of Nagaland; (miii) "State Government" means the State Government of Nagaland; (xdv) "Statutes" means the Statues of the University; (XXV) "Study Centre" means a centre established, maintained or recognized by the - University forthe purpose of advising, counseling or for rendering any other assistance includitraining, conducting contact classes and examinations required by the students; (xxvi) "Teacher" means a Professor, Associate Professor, Assistant Professor1 Lecturer or such other person as may be appointed for imparting instructions or conducting research in the University or in a constituent college or institution and includes the Principal of a constituent college or institution, in conformity with the norms prescribed by the UGC; (xxvii) "The CFA Charter and Designation" means the Chartered Financial Analyst Charter and Designation conferred by the University or by an agency duly authorized by the University upon the successful candidates (xxxi) (xxxii) (xxxiii) (xxxiv) of the Chartered Finanacial Analyst (CFA) programadministered by the University or by an agency duly authorized by the University; "The CPACertificate and Designation" meanthe Certified Public Accountant Certificate and Designation conferred by the University or by an agency duly authorized by the University upon the successful candidates ofthe Certified Public Accountant Program administered by the University or by anagency duly authorized by the University; "The Council of Chartered Financial Analysts" means the society which is registered under the Andhar Pradesh (telanganaArea0 Public Societies Registration Act, 1350 Fasli (Act I of 1350 F) at Hyderabad, Andhar Pradesh (registration No. 1809 dated August 19, 1989); " The Society of Certified Public Accountants" means the society which is registered under the Andhar Pradesh (Telangana Area) Public Societies Registration Act, 1350 Fasli (Act I of -1350 F) at Hyderabad, Andhar Pradesh (Registration No. 5575 dated August 17,2001); "UGC" means the University Grants Commission established under the University Grants Commission Act, 1956; "University" means the Private University by name the institute of Chartered Financial Analysts of India University (Nagaland) established under this Act; "Vice - Chancellor" means Vice -Chancellor of the University; and "Visitor" means the Visitor of the University. Chapter I1 Establishment, Objectives and Powers of University Establishment of University As soon as after the commencement of this Act, the State Government shall call upon the sponsor to set up an Endowment Fund of Rs. One corer I mediately after the setting up of the Endowment Fund, the State Government shall accord sanction for establishment of the University by name the institute of Certified Financial Analysts of India University (Nagaland) and thereafter the sponsor shall accordingly establish the University. (3) The State Government shall notify the fact of establishment ofthe University in the Official Gazefte as soon as may be after the establishment of the University by the sponsor. "Provided that no suchnotification by the State Government shall be issued unless a High Powered Committee appointed in that behalf certifies to the State Government that all necessary infrastructure including buildings, equipments, teaching staffetc, are in place and that the provisions of Section 60, wherever applicable, have been filly complied with by the University" (4) The University shall be a body corporate by the name aforesaid, having perpetual succession and common seal and shall, by that name, sue and be sued. (5) The main campus of the University shall be at Dimapur, Nagaland and off-shore campuses, Regional Centres, Study Centres etc.,may be established in Nagaland and anywhere in India and abroad, with the approval of the Board of Governors and in accordance with the University Grants Commission Act, 1956 and the regulations made thereunder. (6) On establishment of the University, the sponsor shall make arrangements for procuring the land as per the laws in force in the State of Nagaland and creation of necessary i&astructure for the University. (7) The land, building and other properties acquired for the University shall not be used for any purpose, other than that for which the same is leasedl acquired. University not to be entitled to financial assistance.