Act 33 of 2017

The Indian Institute of Management Act, 2017

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.

  • Ministry of Human Resource Development
  • Department of Higher Education
  • Enacted 2017-12-31
  • 40 sections
SectionTitle
1 Short title and commencement.Read
2 Declaration of certain institutions as institutions of national importance.Read
3 Definitions.Read
4 Incorporation of Institutes.Read
5 Effect of incorporation of Institutes.Read
6 Objects of Institutes.Read
7 Powers and functions of Institute.Read
8 Institutes to be open to all irrespective of sex, race, creed, caste or class.Read
9 Institute to be not-for-profit legal entity.Read
10 Board of Governors.Read
10A Visitor.Read
11 Powers and functions of Board.Read
12 Term of office of, vacancies among, and allowances payable to members of Board.Read
13 Resignation of Chairperson.Read
14 Academic Council.Read
15 Power and functions of Academic Council.Read
16 Director.Read
17 Omitted.Read
18 Custodian of records, etc.Read
19 Role of members of Society.Read
20 Committees and other authorities.Read
21 Grants by Central Government.Read
22 Fund of Institute.Read
23 Accounts and audit.Read
24 Books of account to be maintained by Institute.Read
25 Appointment of auditors.Read
26 Annual report of Director.Read
27 Board to consider statement of accounts.Read
28 Annual report of Institute.Read
29 Establishment of Coordination Forum.Read
30 Functions of Coordination Forum.Read
31 Acts and proceedings not to be invalidated by vacancies, etc.Read
32 Return and information to be provided to Central Government.Read
33 Institute to be public authority under Right to Information Act.Read
34 Power of Central Government to make rules.Read
35 Power to make regulations.Read
36 Ordinances how made.Read
37 Rules and regulations to be laid before Parliament.Read
38 Power to remove difficulties.Read
39 Transitional provisions.Read
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