Section 7(3) in Meghalaya Private Universities (Regulation of Establishment and Maintenance of Standards) Act, 2019
(3)Not exceeding 75% of the interest accruing from the Endowment Fund in the fixed deposit shall be used for the purpose of development work of the University, not less than 20% of such interest shall be reinvested in the Endowment Fund and 5% thereof shall be utilized by State Government for funding the Private Universities Regulatory Board set up as envisaged at Section 11 herein below.
