Section 10(d) in Code of Regulations for Matriculation Schools, Tamil Nadu
(d)The schools applying for recognition after 1st June 1978 should create an endowment of Rs. 1,00,000 out of which 50 per cent will be deposited at the time of opening and remaining amount will be deposited in five equal annual instalments. In respect of minority schools, separate reference should be made for obtaining exemption from creation of endowment and orders obtained in each individual case. In the case of old schools which have already created endowment, the endowment will be limited to Rs. 1,00,000. In the case of schools which did not create endowment status quo will be maintained. The schools will be allowed to create the endowment of Rs. 1,00,000 from the fixed deposit they have made with the University when it matures. The date of maturity should be intimated to the authority concerned.
