Amendment status not verified — confirm the current text below against the official source.
(1) The University shall establish a genoral fund to which iho following amouni shallbe cr€diled, namely t (a) all fees which may be charged by the Llnivorsity: (b) all sums received from any other sourc6; (c ) all contributions made bythe Sponsor; . (d) all contributions/donations made in ihis behall by any other person or body, which are not prohibitod by any law torthe time boing in torce' (2) Thefunds credited tothe genoraitund shallb€ aPplied to meetthe following Payments, namelY t (a) the repaym€nt ol debts including interest charges thereto inourred by the University for the purposes of this Act' the Statutes and the rules madethoreunder; (b) tho upko€p of the assets of the University; (c ) the payment of lh€ cost otaudit ofthe fund created under section 41' (d) meeting the oxpenses of any suit or proceodings to which LJniversity is a Party; (e) the payment of sala'ies and allowances ol the oflicers and employegsol the University' members oftheteaching and research statf, and paymentof any Provident Fund contributions' gratuity and l1 D€velopmerf Fund.