Section 29 in Indian Institute of Teacher Education, Gujarat Act, 2010
29. University Fund.
(1)The University shall establish a Fund to be called the University Fund.(2)The following shall form a part of, or be paid into the University Fund -(i)any contribution or grant made by the State Government, Central Government or an agency of the Central Government;(ii)any bequests, donations, endowments or other grants made by any private individual or institution;(iii)income received by the University from all the sources including income from fees and charges; and(iv)amounts received from any other source.(3)The University Fund shall be kept in any Scheduled Bank as defined in the Reserve Bank of India Act, 1934, (2 of 1934) or in a Co-operative Bank approved by the State Government for the purpose.(4)The University Fund shall be utilized for such purposes of the University and in such manner as may be prescribed by the Statutes.
