Lawgist34Sponsored schemes
Notwithstanding anything contained in this Act, whenever 1[an Institute receives] funds from any Government, the University Grants Commission or any other agency including industry sponsoring a research scheme or a consultancy assignment or a teaching programme or a Chaired Professorship or a scholarship, etc., to be executed or endowed at the Institute,--
(a) the amount received shall be kept by the Institute separately from the Fund of the Institute and utilised only for that purpose; and
(b) the staff required to execute the same shall be recruited in accordance with the terms and conditions stipulated by the sponsoring organisations:
Provided that any money remaining unutilised shall be transferred to the Endowment Fund set up under section 24 of this Act.
Download our fully-offline, High speed android app.- Click here
1. Subs. by s. 28, ibid., for "the Institute receives" (w.e.f. 13-1-2020).
- 33 Acts and proceedings not to be invalidated by vacancies, etc
- 34 Sponsored schemes
- 35 Power of Institute to grant degrees, etc
- 36 Powers of Central Government to issue directions
- 37 Institute to be public authority under Right to Information Act, 2005
- 38 Power of Central Government to make rules
- 39 Transitional provisions
- 40 Statutes and Ordinances to be published in the Official Gazette and to be laid before Parliament
- 41 Power to remove difficulties
