LawgistThe Indian Institutes of Information Technology (Public-private Partnership) Act
10Institute to be a distinct legal entity not-for-profit
(1) Every Institute shall be a not-for-profit legal entity and no part of the surplus, if any, in revenue of such Institute, after meeting all expenditure in regard to its operations under this Act, shall be invested for any purpose other than for the growth and development of such Institute or for conducting research therein.
(2) Every Institute shall strive to raise funds for creation of a corpus for self-sufficiency, sustainability and future development of the Institute.
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THE INSTITUTES
- 4 Incorporation of Institutes
- 5 Effect of incorporation of Institutes
- 6 Objects of Institute
- 7 Powers and functions of Institute
- 8 Institutes to be open to all races, creeds and classes
- 9 Teaching at Institute
- 10 Institute to be a distinct legal entity not-for-profit
- 11 Establishment of Institute by Central Government, State Government and industry partners
