(1) The sponsoring body may dissolve the University by giving a notice to this effect to the Government, the employees and the students of the University at least one year in advance:
Provided that dissolution of the University shall have effect only after the last batches of students of the regular courses have completed their courses and they have been awarded degrees, diplomas or awards, as the case may be.
(2) On the dissolution of the University all the assets and liabilities of the University shall vest in the sponsoring body:
1. Inserted vide H.P. Act No. 24 of 2012.
2. Substituted for the word “Government” vide H.P. Act No. 24 of 2012.
3. Substituted for the word “Government” vide H.P. Act No. 24 of 2012.
4. Inserted vide H.P. Act No. 24 of 2012.
5. The words and signs “after consultation with the Vice-Chancellor,” omitted vide H.P. Act No. 18 of 2011.
6. Inserted vide H.P. Act No. 24 of 2012.
7. Inserted vide H.P. Act No. 24 of 2012.
THE MANAV BHARTI UNIVERSITY (ESTABLISHMENT AND REGULATION) 23 ACT, 2009
Provided that in case the sponsoring body dissolves the University before 1[fifty years] of its establishment all the assets of the University 2[including assets of the sponsoring body pertaining to the University] shall vest in the Government free from all encumbrances.