(1) The University shall, with the approval of the Board, constitute for the benefit of its officers, teachers and other employees in such manner subject to such conditions, as may be prescribed, such schemes of pension, Provident Funds and insurance as it deem fit and also aid in establishment and support of the associations, institutions, funds, trusts and conveyance calculated to benefit the staff and the students of the University.
(2) Where any such Provident Fund has been so constituted, the provisions of the Provident Fund Act, 1925 shall apply to such funds as if it were a Government Provident Fund.
31. No act or proceeding of the Board or any Authority of the University or any Committee constituted under this Act or by the Regulations shall be questioned on the ground merely of the existence of any vacancy in, or defect in, the constitution of the Board, Authority or Committee of the University.
32. The University shall furnish to the Regulatory Bodies such reports, returns, statements and other information as may be required by them, from time to time.