60. Expenditure of the University during dissolution.- (1) The expenditure of
administration of the University during taking over period of its management undersub-section (5) of section 59 shall be met out of the Permanent Statutory EndowmentFund, the General Fund or the Development Fund in such manner as may beprescribed.(2)If the fund referred to in sections 48, 49, 50 and 51 are not sufficient tomeet the expenditure of the University during the taking over period of itsmanagement, such expenditure may be met by disposing of the properties or asset ofthe University, by the Government.(3)Where the dissolution of the University is due to mismanagement ormaladministration, the Government is at liberty to identify the persons responsible forsuch mismanagement or maladministration and to impose penalty as it deems fit.
