Section 40 in The Nalanda Open University Act, 1995
40. Objects to which the University Fund may be applied.
- The University Fund shall be applicable to the following objects :-(a)to the repayment of debts incurred by the University for the purposes of this Act and the Statutes, the Ordinances, the Regulations and the Rules made thereunder;(b)to the upkeep of departments established by the University;(c)to the payment of the salaries and advances of officers, teachers and . other employees of the University, and of any Provident Fund contributions or pension or gratuity to any such officers, teachers and other employees;(d)to the payment of the travelling and other allowances of the members of the Executive Council, the Academic Council and any other authorities of the University or the members of any Committee or Boards appointed in pursuance of any provisions of this Act and the Statutes, the Regulations and the Rules made thereunder;(e)to the making of grants to the study centres and other institutions;(f)to the payment of the cost of audit of the University Fund and of the cost of audit of the accounts of any department or study centre;(g)to the payment of expenses of any suit or proceeding to which the University is a party;(h)to the. payment of any expense incurred by the University in carrying out the provisions of this Act and the Statutes, the Ordinances, the Regulations and the Rules made thereunder; and(i)to the payment of any other expense, though not specified in any of the preceding clauses, but declared by the Executive Council to be the expense for the purpose of the University.
