(1) The University, with the approval of the Vice-Chancellor, may accept gifts or donations:
Provided that the purposes for which the contributions are made are consistent with the aims of the University as set out in the Nalanda University Act, 2010 (39 of 2010).
(2) Monies accepted for the purposes specified by the donor shall be treated as trust or endowment or specific funds.
(3) Monies received from other Member States of East Asia Summit shall be treated as financial contributions by them and reported as such.
(4) Voluntary contributions, gifts and donations which directly or indirectly involve additional financial liability for the University may be accepted only with the prior approval of the Vice-Chancellor if the budget provision exists for such expenditure or additional financial liability.
(5) Monies accepted in respect of which no purpose is specified shall be treated as miscellaneous income in the accounts for the relevant financial period.
(6) The Vice-Chancellor may approve acceptance of donations in kind for which proper account shall be maintained.
Receipt of Funds