Section 30 in Gujarat Biotechnology University Act, 2018
30. University Fund.
(1)The University shall establish and maintain a Fund to be called the University Fund consisting of -(i)any contribution or grants or loans by the State and the Central Government;(ii)the income of the University front all sources including income from fees and other charges;(iii)all moneys received by the University by way of grants, loans, gifts, donations, benefactions, bequests, transfers or endowments and other grants, if any;(iv)all moneys received by the University from the collaborating industry in terms of the provisions of the Memorandum of Understanding entered between the University and the industry, for establishment of the sponsored chairs, fellowships or infrastructure facilities of the University; and(v)the moneys received by the University in any other manner or from any other sources.(2)All moneys credited to the fund of the University shall be deposited in such Banks or the surplus fund shall be invested in such manner as the Board, on the recommendation of the Finance Committee, decides from time to time.(3)The University Fund shall be applied towards the expenses of the University including expenses incurred in the exercise of its powers and discharge of its functions under this Act.(4)No money from the University shall be spent except as otherwise provided for meeting its objectives.
