Amendment status not verified — confirm the current text below against the official source.
other benefits to anysuch otficers and employoes, members otthe leaching and research statf: (0 the payment ol travellng and other allowances o{ the members of the Board ol Govemors, the Board of Managsment, Academic Council, and olher authorities so declared underthe Statut€s otthe University and ofihe mombors ol any Committoe or Board appolnted by any of the authorjties ol th€ University in pursuance ol any provision ot this Acl or lhe Statutes orthe rules madethoreunder; (g) the paymeni of lellowshlps, froeships, schola6hips, assistanlships and otherawards tostudents, research associatgs or irainees eligible forsuch awards underthe Statut€s or rules olthe University under the provisions ol this Act; (h) the payment ol any expenses incurred by the University in carrying out the provisions of lhis Act, and the Statutos or tho rules made thereundeI (i) the payment of cost of capital, not excoeding the prevailing bank rate of interest, lncurred bythe Sponsorfor setting up the Unive.sity and th6 investments made lhereof ; 0 the paymonl of charges and expenditure relating to the consultancy work undertaken bythe university in pulsuance ofthe provlsions of this Act, and the Statutes, and the rules made lhereunder : Provided thai no expenditure shallbe jncurred bythe University in excess oi the limits lor total recu ng expendituae and tolal non_r€curring expenditure forthayoaras maybe fixed byth€ Board oI Management wlthout the previous approvalofthe Board of Managemenl: Provided furtherthatthe Gonoralfund shallbe applled torthe objecls specified under sub'section (2) with the prlor approval of the Board of Management ol the University. ('t) Th€ Univorsity shallalso establish a developmentfund towhich the foilowlng funds shall be credited, namoly: (a) Dsvelopment fe€s which may be charged from students; (b) all sums received trom any olhgr source tor the puQoses ol ihe develoPment ot the Universityl (c) all c.ntrlbulionc made by lhe SPonsor; (O all contributions/donations made in this behalf by any other person or body which are not prohibited by any lawforthetimo being in force; and (e) all incomes rec€ived from the ondowment fund. (2) The tunds crsdiied to the development fund from time lo time shall be utilized for the development of the University. The tunds established undersectlons 41.42 and 43 shall, subject to gen€ral supervislon and oontroloftho Board of Governors, be regulated and maintained in such mannoras maybe prescribed. 18 Malntenanc€ of fund,