Amendment status not verified — confirm the current text below against the official source.
(1) The Sponsor shall establish an endowment fund of at least Rupees Fifty lakhs. (2) The University shall have power to invest the endowment fund in suchmanners as may be prescribed. (3) The University may transfer any amount from the general fund or the development fund to the endowment fund. Except in the event of dissolution of the University, in no other circumstances can any monies be transferred from the endowment fimd for other purposes. (4) Not exceeding 75% of the incomes received from the endowment fund shall be used for the purposes of development works of the University and the remaining 25% shall be reinvested in to the endowment fund. General fund