Section 20 in Tamil Nadu Private Colleges (Regulation) Rules, 1976
20. Utilisation of funds and property of college.
(1)The funds of the college shall be utilised for the bona fide purposes connected with the college.(2)No educational agency shall divert the funds of the college from one purpose to another, without the previous permission in writing of the Director.(3)In cases, where donations are collected with the previous permission of the competent authority for any specific or earmarked purposes, they shall be utilised only for such purpose. Balance amount, if any, shall be credited to the funds of the college.
