Section 34 in National Institute of Design Act, 2014
34. Sponsored schemes.
- Notwithstanding anything contained in this Act, whenever [an Institute receives] [Substituted 'the Institute receives' by Act No. 38 of 2019, dated 29.11.2019.] funds from any Government, the University Grants Commission or any other agency including industry sponsoring a research scheme or a consultancy assignment or a teaching programme or a Chaired Professorship or a scholarship, etc., to be executed or endowed at the Institute,-(a)the amount received shall be kept by the Institute separately from the Fund of the Institute and utilised only for that purpose; and(b)the staff required to execute the same shall be recruited in accordance with the terms and conditions stipulated by the sponsoring organisations: Provided that any money remaining unutilised shall be transferred to the Endowment Fund set up under section 24 of this Act.
