State Act

THE UTTAR PRADESH GAUTAM BUDDHA UNIVERSITY ACT, 2002

38. Permanent endowment fund (1) The University shall establish a permanent endowment fund of at least rupees ten crores which may be increased by notification issued in this behalf by the State Government from time to time. (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fund to the permanent endowment fund. 1[(4) Any amount exceeding the minimum amount specified in sub-section (1) may be withdrawn from the permanent endowment fund by the University to be credited to the general fund to meet the recurring/nonrecurring expenses of University.]