Amendment status not verified — confirm the current text below against the official source.
(1) The Umverslty shall establ'sh a fund to be called the UniversityFundtc whichthefollowvngshallbecredited.namew•:— (b) any contributÉn Of grant by the State Government. Central Government. D'stance Education Council, Indira GandhiNationalOpenUniversity.IndustrialUndertakings. Corporations Companies. Associations, Other bodies or authorities: any income of the Unversity from all sources including incomefrorn fees and charges and sale proceeds. bequests. donations_endowmentsand other grants, if any. received by Unwets'ty: and muscenanec•Æ recap's (2) The Universdymay.fromtynetc "me. establishsuchotherfunds insuchnameandfor suchspecificpurposesasmaybedecidedbythe Board OfManagement in consultations with Government (3) Thefund shallbe keptw a NationalisedBankor ScheduledBank or investedin such securitiesas may be decidedby the Boardof Management (4) ThefundsandaumoneysoftheUnversityshallbemanagedin such manners as may be prescröed by the Statutes (5) Universitymay. with previousapproval of the Government as regardsthe purposeand amountcf loan.and subjectto such conditionsas maybespecifiedbytheGovernmentastosecurityandrateofinterest.borrow anysumof moneyfromanyNaticnal•sed BankorScheduledBankorany othercorporatebody or any financial institution. Searchable PDF created by OCR.space (Free Version) g•nanc• E s: mates Acxwnts and