State Act
41
Section 41. Permanent endowment fund
THE AXIS UNIVERSITY UTTAR PRADESH ACT, 2011
In forceUttar Pradesh (State Act)
41. Permanent endowment fund (1) The Society shall establish a permanent endowment fund of at least rupees ten crore. (2) The University shall have the power to invest the permanent endowment fund in such manner as may be prescribed. (3) The University may transfer any amount from the general fund or the development fund to the permanent endowment fund. (4) Any amount exceeding the minimum amount specified in sub-section (1) may be withdrawn from the permanent endowment fund by the University for the purposes of development of the University.