Section 46 in Tamil Nadu Private Universities Act, 2019
46. Permanent Endowment Fund.
(1)The sponsoring body shall establish a permanent endowment fund of at least rupees fifty crores.(2)A Private University shall have the power to invest the permanent endowment fund in such manner as may be prescribed.(3)A Private University may transfer any amount from the general fund or the development fund to the permanent endowment fund.(4)Any amount exceeding the minimum amount specified in sub¬section (1) may be withdrawn from the permanent endowment fund by the Private University for the purposes of development of the Private University.
