Amendment status not verified — confirm the current text below against the official source.
(1) The University shall have a fund called rounaaticn f he Foundation Fund. Fund. (2) The Foundatio~l Fund shall consist of- (4 the sum of not less than ten lakhs of rupees which shall be given to it by the Government in the course of the five years after the corning into force of this Act; (b) any contribution to this fund which may be made by the Government, any local authority or othcr public body or others; and (c) any contributions to this fund which inay be inac'e by the Unikfersiiy - (3) The Foundaiion Fund shall be invested and be kept invested, in securities, issued or guaranfeed by the Central Government or by any other State Govern- ment hnd such illvestments shall not be varied without the consent of fhc Chancellor. (4) The corpus of the Foundation Fund shall be kept intack but the interest thereon may be utilised for the purposes of the University. (5) The expenditure from thc revcnues of the State referred to in clause (a) of sub-section (2) shall be expenditure charged on the revenues of' the State.