Section 27(2) in Tamil Nadu Private Colleges (Regulation) Act, 1976
(2)The competent authority may-(a)grant the permission under clause (a) of sub-section (1) if the transfer is made in furtherance of the purposes of the private college or of similar purposes approved by the competent authority; and the assets resulting from the transfer are to be wholly utilised in furtherance of the said purposes; and(b)when granting such permission, impose such conditions as it deems fit to ensure that such assets are wholly utilized in furtherance of such purposes; but a contravention of any such condition shall not invalidate the transfer:Provided that the permission shall not be refused under this section unless the applicant has been given an opportunity of making his representations.Explanation I. - For the purposes of this section, "'property" means any--(a)movable property of not less than such value as may be prescribed; and(b)such immovable property as may be specified in the rules made in this behalf.Explanation II. - In this section and sections 28 and 29, "private college" does not include a minority college."
