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Section 34: Sponsored schemes.

The National Institutes of Design Act, 2014Central Act · Act 18 of 2014

Notwithstanding anything contained in this Act, whenever [an Institute receives] funds from any Government, the University Grants Commission or any other agency including industry sponsoring a research scheme or a consultancy assignment or a teaching programme or a Chaired Professorship or a scholarship, etc., to be executed or endowed at the Institute,--

(a) the amount received shall be kept by the Institute separately from the Fund of the Institute and utilised only for that purpose; and

(b) the staff required to execute the same shall be recruited in accordance with the terms and conditions stipulated by the sponsoring organisations:

Provided that any money remaining unutilised shall be transferred to the Endowment Fund set up under section 24 of this Act.

Where this provision sits

ActThe National Institutes of Design Act, 2014
Section34
Marginal noteSponsored schemes.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • substituted. . Subs. by s. 28, ibid., for "the Institute receives" (w.e.f. 13-1-2020).

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