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(1) The University shall have a fund to be known as the University Fund to which shall be credited all its income from fees, contributions, donations, grants, and endowments. (2) The University may also create, by Ordinances, separate special funds for the administration of Students' Welfare, Endowments, Donations and Gifts, trust or specific grants or grants for other special purposes. (3) The funds credited to the University Fund shall be applied to meet all the administrative, institutional, infrastructural and recurring expenditure of the University and all other expenditures as shall be prescribed by a Regulation; Provided that all expenditure under the University Fund shall be placed before the General Board for its approval.
(1) The University shall have a fund to be known as the University Fund to which shall be credited all its income from fees, contributions, donations, grants, and endowments. (2) The University may also create, by Ordinances, separate special funds for the administration of Students' Welfare, Endowments, Donations and Gifts, trust or specific grants or grants for other special purposes. (3) The funds credited to the University Fund shall be applied to meet all the administrative, institutional, infrastructural and recurring expenditure of the University and all other expenditures as shall be prescribed by a Regulation; Provided that all expenditure under the University Fund shall be placed before the General Board for its approval. <br>