Amendment status not verified — confirm the current text below against the official source.
(I) The Uni (2) (a) fees and received by tlre lJniversity I (b1 any ved fiom consultancy and other. work University ; (c) bequests, and eudowmelrts and any other grants ; (d/ firnds and from any source by the University for ts from any Covernment and non- Gover The General Fu ag sha be utilized for the.following purposes, (u) for the repa debts including interest charges thereto incurred versity ; for the the assets of the University ; of the cost of audit of the funds oreated : (b) /^ | for the Other funds Annual acoount and audit PUNJAB GOVT GAZ. (EXTRA.), DEC. 26,2011 USA 5, 1933 SAKA) (d) fpr meetiqg the expenses of any suit or proceedings ; (e). for the payment of o\ry.ano€s of tte ofiioers- and employees of and,for the payment of any benefits to any such oflficers and employees ; (fl for the payment of travelling arid other allowanoes of the* members of the authorities of the University and of the members of any committee or board ; (g) for the payment of fellowships, freeships, soholarships. assistantships and other awards to stud€nts belonging to economically weaker.sections of the society or research associates or trainees, as tJre case may be, or to any student otherwise eligible for such awards ; (h) for the paym€nt. of any expenses incurred h the University; \'/ for acquisition of land oq any ktnp of development work or' likewise activities for ttre purpose of the University ; for the payment sf cost of capital and repayment of loans incurre.d by the Trust for settiag up and running the University and the invesftnents made therefor ; (k) for the payment of charges and expenditure relating to th6 consultancy work und en by tlre University ; and O for $e paynlent of any.experditure, salaries, taxes, liabilities etc. by the Trust for or on behatf of the Univorsity, (3) The University shall d e such acdounting system to handle inistration of finance and accolrnb in a simple and effioient mannsr that unnecessary procedural complications could be avoided: 21 . The University may hdve such other funds also, as may be 2t. The accounf,s sf the ircome and e4pnditure of tf," U*Hity audited by the Chartered Acconqta$s of,the llniversiry and shall itted once in a year by the Chief Finanqe and Accounts Officer to ing Body for its approval. (t) (i) ')f PUNJAB GOVT (EXTRA,), DEC.26,2}tl l3t (PA 1933 SAKA)