Section 0(10) in UGC (Institutions Deemed to be Universities) Regulations, 2019
10.0System of Institutional Governance.- 10.01 The proposed/existing Institution Deemed to be University shall be registered as a not-for-profit Society under the Societies Registration Act, 1860 or as a not-for-profit Trust under the Public Trust Act, or as a not-for-profit company under section 8 of the Companies Act, 2013.Provided that a sponsoring body exclusively established for running educational institutions shall be exempted from registering as a separate not-for-profit Society /Trust /Company for the Deemed to be University. However, the sponsoring body shall categorically mention in its Registration Deed that the sponsoring body is exclusively for running educational activities and no other activities are being carried out or shall be carried out in future under it.Provided further that if the sponsoring body of an existing Institution Deemed to be University does not have a Society /Trust /Company exclusively for running educational institutions, it shall form a new not for profit Society / Trust /Company for the Deemed to be University. In such cases, the sponsoring body shall be exempted from transferring of its moveable and immoveable assets to the newly created Society/Trust/Company, if such sponsoring body provides Notarized Affidavit to the effect that the entire moveable and immoveable assets allocated to the Institution Deemed to be University shall not be leased or otherwise disposed off without the prior permission of the Commission, and also that all expansion in the future shall be undertaken by the Society /Trust /Company exclusively established for Deemed to be University.Provided also that the sponsoring body shall make available the infrastructure for operating the Institution Deemed to be University without any rental or other such charges.
