Section 34 in Doctor Ram Manohar Lohiya National Law University Uttar Pradesh Act, 2005
34. Fund of the [University] [Substituted for 'Sansthan' by U.P. Act 35 of 2006, Section 2.].
(1)There shall be a Fund of the [University] [Substituted for 'Sansthan' by U.P. Act 35 of 2006, Section 2.] which shall include,-(i)any contribution or grant made by the State Government;(ii)any contribution or grant made by the University Grants Commission or the Central Government;(iii)any contribution made by the State Bar Council;(iv)any bequests, donations, endowments or other grants made by private individuals or institutions;(v)income received by the [University] [Substituted for 'Sansthan' by U.P. Act 35 of 2006, Section 2.] from fees and charges; and(vi)amounts received from any other source; but shall not include any funds received from any agency for sponsoring a scheme.(2)The amount in the Fund of the [University] [Substituted for 'Sansthan' by U.P. Act 35 of 2006, Section 2.] shall be kept in a Scheduled Bank as defined in the Reserve Bank of India Act, 1934 (Act No. 2 of 1934) or in a corresponding new bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (Act No. 5 of 1970) and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (Act No. 40 of 1980) or may be invested in such securities authorized by the Indian Trusts Act, 1882 (Act No. 2 of 1882) as may be decided by the Executive Council.(3)The Fund of the [University] [Substituted for 'Sansthan' by U.P. Act 35 of 2006, Section 2.] may be utilized for such purpose of the [University] [Substituted for 'Sansthan' by U.P. Act 35 of 2006, Section 2.] and in such manner as may be prescribed.
