Section 4. Properties of the University and its Application

(1) On the establishment of the University the land and other movable and immovable properties acquired, created, arranged, or built by the University for the purpose of the University in the State of Jharkhand shall vest in the University. (2) The land, building and other properties acquired for the University shall not be used for any purpose other than that for which the same is acquired. (3) The properties, movable or immovable, of the university shall be administered by the Governing Body in such manner as may be provided for by the regulations. (4) The properties in the name of the university under sub-section (1) shall be applied for meeting the liabilities of the university in the event of dissolution or winding up of the university in such manner as may be prescribed in the rules.