(1) The management of any college which intends to close down the college or a course in view of its incapacity or financial viability or breakdown of the management, shall give a notice in writing of not less than three months prior to the intended closure of the college to the University and to the State Government, stating the reasons therefor.
(2) The application for closure of the college or a course shall be considered by the Academic Council and the Board and they shall pass appropriate resolutions thereon.
(3) The Registrar shall transmit the application and the resolutions of the Academic Council and the Board to the State Government which shall on consideration of the same issue directions to the University either to permit the closure or to reject the closure and the University shall on receipt of such directions pass orders accordingly.
(4) The management shall not close down the college or a course during the currency of the academic year, and until the annual examinations conducted by the University in respect of the course of study are over and a formal order, issued by the University to do so.
(5) The students of such college which has been permitted to close the college or a course shall on transfer be accommodated in the nearby colleges by the University by increasing the intake in respect of particular course of study to the extent of such students to be accommodated from such closed college and all documents in respect of each student shall be transmitted, to the College in which such students are admitted.
(6) If within ninety days after the expiry of the term of notice under sub-section (1).
the State Government does not issue any direction either permitting or rejecting the closure, it shall be deemed subject to the provisions of sub-section (4), that the management is permitted to close the college or the course as the case may be.