(2)University shall be competent to acquire and hold property, both movable and immovable, to lease, sell or otherwise transfer any movable or immovable property which may have become vested in, or may have been acquired by it for the purpose [of the University, to raise loans upon the security of its assets] [These words were substituted for the words 'of the University' by Gujarat 40. of 1963, Section 2, Schedule, Sr. No. 3 (1) (i).] and to contract and do all other things necessary for the purposes of this Act:[Provided that, the power to raise loans upon the security of its assets shall be exercised after obtaining previous permission of the State Government.] [This proviso was added, by Gujarat 40. of 1963, Section 2, Schedule, Sr. No. 3(1) (ii).]
