Section 56 in Kashmir and Jammu Universities Act, 1969
56. Assets and liabilities.
(1)The assets and liabilities of the Jammu Division and the Kashmir Division of the University of Jammu and Kashmir, existing immediately before the commencement of this Act, shall form the assets and liabilities of the University of Jammu and University of Kashmir respectively.(2)The assets and liabilities of the Central Unit of the University of Jammu and Kashmir, existing immediately before the commencement of this Act, shall be apportioned between the University of Jammu and the University of Kashmir in such manner as the Chancellor in consultation with the ProChancellor may determine.
