Amendment status not verified — confirm the current text below against the official source.
Inserted by Act No.3 of 1977 (w.e.f. 21.12.1976.) Tribunal of Arbitration for disputes between the University and its staff. General and other funds. Borrowing of money. [Act No.24 of 1963] 25 Provided that where the University intends to borrow money from a Bank or a Corporation or both exceeding on amount of fifty thousand rupees at a time or in the aggregate it shall obtain the prior written approval of the Government therefor. 35-B. The University shall not divert earmarked funds for other purposes or revise the scales of pay of its staff or implement any scheme which involves any matching contribution from the Government or which imposes a recurring liability on the Government, after the assistance from the sponsoring authority ceases without the prior written approval of the Government: Provided that Finance Committee may authorize the creation and filling up of posts of teachers for a period not exceeding one year, but any such post shall not be continued or created afresh for any period beyond the said period of one year without the prior written approval of the Government.]