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The Indian Institute of Management Act, 2017

Central

An Act to declare certain Institutes of management to be institutions of national importance with a view to empower these institutions to attain standards of global excellence in management, management research and allied area of knowledge and to provide for certain other matters connected therewith or incidental thereto.

Act number
33 of 2017
Ministry
Ministry of Education
Department
Department of Higher Education
Enacted
31 Dec 2017

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

40 sections

  1. Section 1Short title and commencement.
  2. Section 2Declaration of certain institutions as institutions of national importance.
  3. Section 3Definitions.
  4. Section 4Incorporation of Institutes.
  5. Section 5Effect of incorporation of Institutes.
  6. Section 6Objects of Institutes.
  7. Section 7Powers and functions of Institute.
  8. Section 8Institutes to be open to all irrespective of sex, race, creed, caste or class.
  9. Section 9Institute to be not-for-profit legal entity.
  10. Section 10Board of Governors.
  11. Section 10AVisitor.
  12. Section 11Powers and functions of Board.
  13. Section 12Term of office of, vacancies among, and allowances payable to members of Board.
  14. Section 13Resignation of Chairperson.
  15. Section 14Academic Council.
  16. Section 15Power and functions of Academic Council.
  17. Section 16Director.
  18. Section 17Omitted.
  19. Section 18Custodian of records, etc.
  20. Section 19Role of members of Society.
  21. Section 20Committees and other authorities.
  22. Section 21Grants by Central Government.
  23. Section 22Fund of Institute.
  24. Section 23Accounts and audit.
  25. Section 24Books of account to be maintained by Institute.
  26. Section 25Appointment of auditors.
  27. Section 26Annual report of Director.
  28. Section 27Board to consider statement of accounts.
  29. Section 28Annual report of Institute.
  30. Section 29Establishment of Coordination Forum.
  31. Section 30Functions of Coordination Forum.
  32. Section 31Acts and proceedings not to be invalidated by vacancies, etc.
  33. Section 32Return and information to be provided to Central Government.
  34. Section 33Institute to be public authority under Right to Information Act.
  35. Section 34Power of Central Government to make rules.
  36. Section 35Power to make regulations.
  37. Section 36Ordinances how made.
  38. Section 37Rules and regulations to be laid before Parliament.
  39. Section 38Power to remove difficulties.
  40. Section 39Transitional provisions.