Section 42 in The Gujarat Ayurved University Act, 1965
42. University Fund.
(1)The University shall establish a fund to be called the University Fund.(2)The following shall form part of or be paid, into the University Fund.-(a)any contribution or grant by the State Government, Union Government, or the University Grants Commission;(b)the income of the University from all sources including income from fees and charges;(c)bequest, donations, endowments and other grants, if any.(3)The University Fund shall be kept in any scheduled bank as defined in the Reserve Bank of India Act, 1934 (II of 1934), or in a co-operative bank approved by the State Government for the purpose or invested in securities authorised by the Indian Trusts Act, 1882 (II of 1882), at the discertion of the Syndicate.(4)[ Any grant given by the Government of India for the purpose of Post-Graduate Teaching and Research shall be applied for meeting-(a)expenses incurred for that purpose; and(b)expenses incurred by the Board of Post-Graduate Teaching and Research in exercise of its powers and performance of its duties under section 20B.]
