Amendment status not verified — confirm the current text below against the official source.
(1) The University shall establish a fund to be called the "University Fund" to which shall be credited,- (a) any contribution or grant or loan received from the Government and the Central Government; (b) the income of the University from all sources including income from fees and other charges; (c) all moneys received by the University by way of bequest, donations, gifts, endowments and other grants, if any; and (d) all moneys received by the University in any other manner or from any other source. (2) All funds of the University shall be deposited in a Nationalized Bank as decided by the Vice-Chancellor. (3) The funds of the University shall be applied towards the expenses of the University, including expenses incurred in the exercise of its powers and discharge of its functions, by or under this Act. The University shall endeavor to become self-sustain within a period of seven years. However, Government of Puducherry based on the justification provided may extend the time by which University will become self-sustain from time to time for a period not exceeding three years. Building and Works Committee. Other Authorities of the University. Letter of appointment of Officers and employees. Removal of Teachers and Employees. T h e University Fund. 260 LA GAZETTE DE L'ETAT [PART–II