Section 53. Expenditure of the University - during dissolution

(1) The Expenditure for administration of the University during the taking over the liabilities of the University shall be met out of the permanent endowment fund, the general fund and the development fund. (2) If the funds referred to sub-section (1) are not sufficient to meet the expenditure of the University during the taking over the liabilities of the University such expenditure may be met by disposing of the properties or assets of the University by the State Government.