Page 143 - Compendium of UGC Regulations 1957-2023

Regulations on Establishment, Maintenance and Recognition of Institutions:

xvi) To transfer or accept transfers of any movable property on behalf of the institution
deemed to be university;
Provided that the Board of Management shall not transfer or alter ownership in any
manner whatsoever of any movable or immovable property of the institution
deemed to be university without the approval of the sponsoring Society/Trust/
Company.
xvii) To execute in consultation with the Society/Trust/Company (if any) conveyance,
transfer Government Securities, re-conveyances, mortgages, leases, bonds,
licenses and agreements in respect of property, movable or immovable, belonging
to the institution deemed to be university or to be acquired for the purposes of the
institution deemed to be university;
xviii) To issue appeals for funds for carrying out the objectives of the institution deemed
to be university and, consistent with the provisions of the objectives, to receive
grants, donations, contributions, gifts, prizes, scholarship, fees and other moneys,
to give grants and donations, to award prizes, scholarships, etc.;
xix) To raise and borrow in consultation with the Society/Trust/Company (if any)
money on bonds, mortgages, promissory notes or other obligations or securities
founded or based on any of the properties and assets of the institution deemed to
be university, or without any securities, upon such terms and conditions as it may
think fit and to pay out of the funds of the institution deemed to be university, all
expenses incidental to the raising of money and to repay and redeem the money
borrowed;
xx) To draw and accept and make and endorse discount and negotiate Government of
India’s and other promissory notes, bills of exchange, cheques or other negotiable
instruments;
xxi) To maintain a fund to which shall be credited:

(a) all moneys provided by the Central or State/UT Government(s) /University
Grants Commission;
(b) all fees and other charges received by the institution deemed to be
university;
(c) all money received by the institution deemed to be university as grants,
gifts, donations, benefactions, bequest or transfers and
(d) all money received by the institution deemed to be university in any other
manner or from any other source;
xxii) To open account or accounts of the institution deemed to be university with anyone
or more scheduled banks and to lay down the procedure for operating the same;

xxiii) To deposit all moneys credited to the funds in scheduled banks or to invest them
in consultation with the Finance Committee;
xxiv) To invest the funds of the institution deemed to be university or money entrusted
to the institution deemed to be university in or upon such securities and in such
manner as it may deem fit and from time to time transpose any investment;
xxv) To maintain proper accounts and other relevant records and prepare Annual
Statements of Accounts, including the balance sheet for every previous financial
year, in such form as may be prescribed by the Regulations/Bye-Laws;

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UGC Regulations