Permanent Statutory Endowment Fund
Section 48 of the G.m University Act, 2022 deals with permanent Statutory Endowment Fund. The University shall establish a Permanent Statutory Endowment Fund of at least rupees twenty five crores jointly in the name of the Chancellor of the University and Secretary to the Government, the Higher Education Department, out of which at least rupees fifteen crores shall be in cash and remaini
(1) The University shall establish a Permanent Statutory Endowment Fund of at least rupees twenty five crores jointly in the name of the Chancellor of the University and Secretary to the Government, the Higher Education Department, out of which at least rupees fifteen crores shall be in cash and remaining in the form of Bank Guarantee, which may be increased suomoto but shall not be decreased:
(2) The University shall have power to invest the permanent Statutory Endowment Fund in such manner as may be prescribed. MENT OF KARN ARNATAKA (3) The University may transfer any amount from the General Fund or the Development Fund to the permanent Statutory Endowment Fund. Excepting in the event of dissolution of the University, in no other circumstances can any monies' be transferred from permanent Statutory Endowment Fund for other purposes.
(4) Seventy five percent of the incomes received from permanent Statutory Endowment Fund shall be used for the purpose of development or general work of the University. The remaining twenty five percent shall be reinvested in the permanent Statutory Endowment Fund.
Section 48, The G.m University Act, 2022 (Act 19 of 2023).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 48
What does Section 48 of the G.m University Act deal with?
Section 48 of the G.m University Act is headed "Permanent Statutory Endowment Fund". The University shall establish a Permanent Statutory Endowment Fund of at least rupees twenty five crores jointly in the name of the Chancellor of the University and Secretary to the Government, the Higher Education Department, out of which at least rupees fifteen crores shall be in cash and remaini
How do I find court cases under Section 48 of the G.m University Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: G.m University Act 48, section 48 G.m University Act, section 48 of the G.m University Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 48 of the G.m University Act, and has it changed?
3 other provisions in this corpus refer back to it.
When was the G.m University Act enacted?
G.m University Act was enacted in 2023 as Act 19 of 2023. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
- 4. Establishment of the University1174 words
- 61. Temporary taking over of management of the University in public interest748 words
- 2. Definitions704 words
- 8. Powers of the University597 words
- 16. The Vice-Chancellor499 words
- 24. The Board of Governors and its powers463 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Read from the Government's own scanned gazette with Azure Document Intelligence, then split into sections by their numbering. India Code publishes no text for this Act. The scan itself is mirrored into our own storage and served at /scan/7b8c5885-2eba-4de7-a309-3cd7609b2e9f.pdf, so the reading here can be checked against the page it came from without depending on India Code's own copy staying where it is (it was at https://indiacode.gov.in/server/api/core/bitstreams/8dfdf621-8a65-4cff-87a6-af6016d566f8/content). This page is not a substitute for legal advice.