(a) Development fees which may be charged from students;
(b) All amounts received from any other source for the purpose of the development of the University;
(c) All contributions made by the Himalayiya Ayurvedic Yoga 33 Evam Prakartik Chikitsa Sansthan.
(d) All contribution/donation made in this behalf by any other person or body which are not prohibited by any law for the time being in force; and
(e) All incomes received from the permanent endowment fund.
(2) The funds credited to the development fund from time to time shall be utilized for the development of the University.
Maintenance of fund
48. The funds established under sections 45, 46 and 47 shall subject to general supervision and control of the Board of Governors, be regulated and maintained in such manner as may be prescribed.
Annual Report
49. (1) The annual report of the University shall be prepared under the direction of the Board of Management and shall be submitted to the Board of Governors for its approval.
(2) The Board of Governors shall consider the annual report in its meeting and may approve the same with or without modification.
(3) A copy of the annual report duly approved by the board of Governors shall be sent to Visitor and the State Government before 31 December following close of the financial Year in 31 March each year.
Account and Audit
50. (1) The annual accounts and balance sheet of the University shall be prepared under the direction of the Board of Management and all funds accruing to or received by the University from whatever source and all amount disbursed or paid shall be entered in the accounts maintained by the University.
(2) The annual accounts of the University shall be audited by an auditor, who is a member of the Institute of Chartered Accountants of India, every year.
(3) A copy of the annual accounts and the Balance sheet together with the audit report shall be submitted to the Board of Governors well before 31 December following close of the financial year in 31 March each year.
(4) The annual accounts, the Balance sheet and the audit report shall be considered by the Board of Governors at its meeting and the Board of Governors shall forward the same to the Visitor and the State Government along with its observation 34 thereon before the 31st December each year.
(5) The direction of the State Government on the subject arising out of the accounts and audit report of the University shall be binding on the University.
Mode of proofing the University record
51. A copy of any receipt, application, notice, order, proceeding or resolution of any authority or committee of the university or other documents in possession of the University or any entry in any register duly maintained by the University, if certified by the Registrar, shall be received as primafacie evidence of such receipt, application, notice, order, proceeding, resolution or document or the existence of entry in the register and shall be admitted as evidence of the matters and transaction therein recorded where the original thereof shall, if produced, have been admissible in evidence.
Dissolution of University
52. (1) If Himalayiya Ayurvedic Yog Evam Prakartik Chikitsa Sansthan proposes dissolution of the Himalayiya University in accordance with the law governing its constitution or incorporation; it shall give at least three months notice in writing to the State Government.
(2) On identification of mismanagement, maladministration, indiscipline, failure in the accomplishment of the objectives of University and economic hardships in the management systems of University, the State Government would issue directions to the management systems of university. If the directions are not followed within such time as may be prescribed by the State Government, the right to take direction for winding up of the University shall vest in the State Government after giving due opportunity for hearing to the management systems of the university.
(3) The manner of winding up of the University would be such as may be prescribed by the State Government in this behalf.
(4) On receipt of the notice referred to in sub-section (1), the State Government shall acquire the administration of the university as per rules.
Expenditure of the University during Dissolution
53. (1) The expenditure for administration of the University during the taking over period of its management under section 52 shall be met out of the permanent endowment fund, the general fund or the development fund.
(2) If the funds referred to in-sub-section (1) are not sufficient to 35 meet the expenditure of the University during the taking over period of its management, such expenditure may be met by disposing of the properties or assets of the University, by the State Government.
Power to remove difficulties 54 (1) If any difficulty arises in giving effect to the provision of this Act, the State Government may, by a notification or order, make such provision, not inconsistent with the provisions of this Act, as appear to it to be necessary or expedient, for removing the difficulty:
Provided that no notification or order under subsection (1) shall be made after the expiration of a period of three years from the commencement of this Act.
(2) Every order made under sub-section (1) shall, as soon as may be after it is made, be laid before the State legislative Assembly.