Amendment status not verified — confirm the current text below against the official source.
(1) The income from the fees and other charges realized by, any contribution and endowment received by and all grants made to the University shall form one general fund to be called the General Fund of the University and all moneys so realized and received shall be credited to it. (2) The University may have such other funds and shall maintain such accounts in respect of every fund as may be prescribed. (3) All moneys credited to the funds of the University shall be deposited in such banks or invested in such manner as the University may, with the previous approval of the Government, decide. Powers of Vice- Chancellor to appoint officers, constitute committees temporarily. General and other funds. Acts or proceedings of authorities not to be invalidated by reason only of certain defects. 18 [Act No.31 of 2008]