State Act
45
Section 45. Permanent Endowment fund
THE HIMALAYIYA UNIVERSITY, ACT 2019
Act no. 08 of 20192019RepealedUttarakhand (State Act)
This Act was repealed on a date we do not have by the Uttarakhand Private Universities Act, 2023 (Uttarakhand Act 2 of 2024), s.72(1) and Schedule-I item 19; it may still apply to matters that began before then.
45. The University shall establish a permanent endowment fund of Rs. Five Crores in the form of a Bank Guarantee of a Nationalized Bank pledged in the name of State Government of Uttarakhand whose tenure shall be of five years and after the completion of the duration it shall be renewed after every five years and the said Bank Guarantee will be increased by 25% after every 5 years.