Section 52. Dissolution of university by sponsoring body.

(1) The sponsoring body may dissolve the university by giving a notice to this effect to the Government, employees and students of the university, at least one year in advance: Provided that, dissolution of the university shall have effect only after the last batches of students of the regular courses have completed their courses and they have been awarded the degrees, diplomas or awards, as the case may be. (2) On dissolution of the university all the assets and liabilities of the university shall, subject to the provisions of any other law for the time being in force, vest in the sponsoring body.