Amendment status not verified — confirm the current text below against the official source.
(a)the first Pro-Chancellors shallbe appoinled by the chancellorand the said otficers shall hold otlice for a term ol live years; (b) the first Vice'Chancellor shall be appointed by the Chancollor and the said ofiicer shall hold oftioe for a lerm of five years; (c) The ti.st Registrar and the tirst Finance Ofiicer shall be appointed by the Chancellorwho shallhold office ior a lerm ol live years; (d ) The fkst Board o{ Governors shallhold oilicefor a t€rm not exceeding five Years; (e) The lirst Board of Managemenl' lhe first Finance Committee and the lirst Academic Councilshallbe constituted bythe Chancellorfor a t€rm of tive Years' EndowmentFund. 41. (1) Tho University shallestablish an endowmentlund ol at least Rupees . on6 crore. (2) The Univorsity shallhave powerto invesl the endowmentlund in such manner as may be prescrib6d' (3) The University may transfer any amount lrom the gsneral tund or the developmont,und to the endowment fund Excepting in the dissolution of th€ Unlversity, in no olher circumslances can any monies be kansferred kom the endowm€nt fund tor other purposes' (4) Not exceeding 75 percant ol the incomes receivod from ihe endowment fund shallbe used for the purposes ot develoPfirent works of the University. The.emaining 25 percent shallbe reinvosted intothe endowmentfLrnd ceneral lund.