Section 42. Development Fund

(1) The University shall also establish a Development Fund to which the following funds shall be credited: (i). Development fees which may be charged to the students; (ii). Sums received from any other source for the purposes of the development of the University; (iii). Contributions made by the Sponsor; (iv). Contributions or donations made in this behalf by any other person or body which are not prohibited by any law for the time being in force; and (v). Share of income received from the investment of endowment fund; (2) The funds credited to the Development Fund from time to time shall be utilized for the development of the University.