Section 41 in The Gujarat Ayurved University Act, 2021
41. Fund of University.
(1)The University shall establish, a fund to be called the “University Fund” consisting of:-(i)any contribution or grant or loan by the State Government and the Central Government;(ii)the income of the University from all sources including income from the fees and charges;(iii)bequest, donations, gifts, endowments and other grants; if any,(iv)the money received by the University from the collaborating organisation or industry in terms of the provisions of the Memorandum of Understanding between these two for establishment of sponsored chairs, fellowship and infrastructure facilities of the University.(2)All funds of the University shall be deposited in such Banks or invested in such manner as the Board of Governors may decide on the recommendation of the Finance Committee.(3)The funds of the University shall be applied towards the expenses of the University including expenses incurred in the exercise of its powers a discharge of its functions by or under this Act.
