Amendment status not verified — confirm the current text below against the official source.
(1)The University shall establish a fund, to be called the University fund. (2) The following shall from part of or be paid into, the University fund— (a) any contribution or grant by the State Government, the Union Government, or the University Grants Commission; (b) the income of the University from all sources including income from fees and charges; (c) bequests, donation, endowments and other grants, if any. (3) The University Fund shall be kept in any Scheduled Bank as defined in the Reserve Bank of India Act, 1934 (No.2 of 1934) or invested in securities authorized by the Indian Trusts Act, 1882 (No.2 of 1882), at the discretion of the Executive Council. ---------------------------------------------------------------------- 1- del. by sub-section (15) of section 12 of the Uttrakhand Act no. 16 of 2014. 2- Inserted by section 4 of UK Act no 11 of 2019. Annual Accounts and Financial estimation