State Act
49
Section 49. Expenditure of the University during dissolution
THE ICFAI UNIVERSITY ACT, 2003
Act no. 16 of 20032003RepealedUttarakhand (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This Act was repealed on a date we do not have by the Uttarakhand Private Universities Act, 2023 (Uttarakhand Act 2 of 2024), s.72(1) and Schedule-I item 3; it may still apply to matters that began before then.
49. (1) The expenditure for administration of the University during the taking over period of its management under section 48 shall be out of the permanent endowment fund, the general fund or the development fund. (2) If the fund referred to sub-section (1), are not sufficient to meet the expenditure of the University during the taking over period of its management, such expenditure may be met by disposing of the properties or assets of the University, by the State Government.