Bare ActsThe Institute of Chartered Financial Analyst of India University Act, 2006.

Section 47

Amendment status not verified — confirm the current text below against the official source.

(1) If the Sponsor proposes dissolution of the University in accordance with the Law governing its Constitution or incorporation, it shall give at least three months notice in writing to the State Government. (2) On idcntitication of mismanagcmcnt. maladministration. indiscipline, failure in the accomplishment ofthe objects ol'University and economic hardships in the management systems of ilnivcrsity, thc State (iovcmmcnt would issue dircctions to thc Universitv and if the directions are not followed within such time as may be prescribed, the state Government is competent to order the dissolution of the University. (3) The manner of dissolution of the University would be such as may be prescribed by the State Governna ' ., rules, in this behalf. Provided that no such action will be initiated without affording a reasonable opportunity to show cause to the Sponsor. (3) On receipt of the notice referred to in sub-section (I), the State Government shall, in consultation with the AICTE and UGC make such arrangements for administration of the University by the Sponsor till the last batch of students in regular courses of studies of the University complete their courses of studies in such manner as may be prescribed by the Statutes. Expenditure of University during dissolution

Section 47 – The Institute of Chartered Financial Analyst of India University Act, 2006. | DailyLaw.ai