Section 47 in The Institute of Chartered Financial Analysts of India University (Nagaland) Act, 2006
47. Dissolution of University.
(1)If the Sponsor proposes dissolution of the University in accordance with the Law governing its Constitution or incorporation, it shall give at least three months notice in writing to the State Government.(2)On identification of mismanagement maladministration, indiscipline, failure in the accomplishment of the objects of University and economic hardships in the management systems of University, the State Government would issue directions to the University and if the directions are not followed within such time as may be prescribed the State Government is competent to order the dissolution of the University.(3)The manner of dissolution of the University would be such as may be prescribed by the State Government, by rules, in this behalf :Provided that no such action will be initiated without affording a reasonable opportunity to show cause to the Sponsor.(4)On receipt of the notice referred to in sub-section 91, the State Government shall, in consultation with the AICTE and UGC make such arrangements for administration of the University from the proposed date of dissolution of the University by the Sponsor till the last batch of students in regular courses of studies of the University complete their courses of studies in such manner as may be prescribed by the Statutes.
