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Section 39
Uttar Pradesh Maharishi University of Information Technology Act, 2001Uttar Pradesh

Section 39. Permanent endowment fund

39. (1) The University shall establish a permanent endowment fund of at least rupees ten crore which may be increased by notification issued in this behalf by the State Government, from time to time.

(2) The University shall have power to invest the permanent endowment fund in such manner as may be prescribed.

(3) The University may transfer any amount from the general fund or the development fund to the permanent endowment fund.

(4) Any amount exceeding the minimum amount specified in sub-section (1) may be withdrawn from the permanent endowment fund by the University for the purposes of development of the University.