Amendment status not verified — confirm the current text below against the official source.
Fund of the University:- (1) There shall be a University Fund which shall include – 24 (a) 1an initial grant of rupees five cores made by the State Government and such other grants as the State Government may give, from time to time, for the development of infrastructure of the University. (b) any contribution or grant made by the University Grants Commission or the Central Government; (c) any contribution made by the Bar Council of India; (d) any contribution made by the Bar Council of India Trust; (e) any contribution made by the State Bar Council; (f) any bequests, donations, endowments or other grants made by any private individual or institution; (g) income received by the University from fees and charges; and (h) any amount received from any other source. (2) The amount of the said Fund shall be kept in a Scheduled Bank as defined in the Reserve Bank of India Act, 1934 or in a corresponding new bank constituted under the Banking Companies. (Acquisition and transfer of Undertakings) Act, 1970 and the Banking Companies (Acquisition and transfer of Undertakings) Act, 1980 or may be invested in such securities authorized by the Indian Trust Act, 1882 as may be decided by the Executive Council. (3) The said fund may be utilized for such purpose of the University and in such manner as may be prescribed by regulations.