State Act

THE SRI SRI UNIVERSITY ACT, 2009

23. (1) The Trust shall place funds at the disposal of the University to be called the Permanent Endowment Fund of a sum of rupees Five Crore, in long term interest bearing securities issued or guaranteed by the State Government. On the termination of the involvement of the Trust and after meeting the operational expenditure for the next three years, out of the Permanent Endowment Fund, if there is any unused balance that shall be paid back to the Trust. (2) The Endowment shall be used as security deposit to ensue that the University complies with the provisions of the Act and functions as per the provisions of the Act and Regulations made thereunder. (3) Income from Endowment Fund may be utilized for development of infrastracture of the University and to meet the recurring expenditure of the University.