Amendment status not verified — confirm the current text below against the official source.
Where at any time it appears to the Government that any Board of Trustees has failed to perform its functions or has exceeded or abused any of the powers conferred upon it by or under this Act resulting in material loss or loss of prestige to the institution or endowment, the Government may communicate the particulars thereof to the Board of Trustees and if the Board of Trustees fails to remedy such defect, excess, or abuse or to give a satisfactory explanation Trustee not to lend or borrow money without sanction. Dissolution of the Board of Trustees. 116 [Act No. 30 of 1987] therefor within such time as the Government may fix in this- behalf, the Government may dissolve the Board of Trustees.