Section 41 in University of Petroleum and Energy Studies Act, 2003
41. Permanent Endowment Fund.
(1)The University shall establish a permanent endowment fund of at least rupees one crore which may be increased suo motu but shall not be decreased.(2)The University shall have power to invest the permanent endowment fund in such manner as may be prescribed.(3)The University may transfer any amount from the general fund or the development fund to the permanent endowment fund. Excepting the dissolution of the University, in no other circumstances can any monies be transferred from corpus of the endowment fund for other purposes.(4)Not exceeding 75% of the incomes received from the corpus permanent endowment fund shall be used for Um purposes of development works of the University. The remaining 25% shall be reinvested into the permanent endowment fund.
