Section 30
Sponsored schemes.
The National Institute of Fashion Technology Act, 2006
About this Act
An Act to establish and incorporate the National Institute of Fashion Technology for the promotion and development of education and research in fashion technology and for matters connected therewithand incidental thereto.
Notwithstanding anything contained in this Act, whenever the Institute
receives funds from any Government, the University Grants Commission or any other agency including
industry sponsoring a research scheme or a consultancy assignment or a teaching programme or a chaired
professorship or a scholarship, etc., to be executed or endowed at the Institute:--
(a) the amount received shall be kept by the Institute separately from the Fund of the Institute and utilised only for the purpose of the scheme; and
(b) the staff required to execute the same shall be recruited in accordance with the terms and conditions stipulated by the sponsoring organisations:
Provided that any money remaining unutilised shall be transferred to the endowment fund created under section 20 of this Act.
(a) the amount received shall be kept by the Institute separately from the Fund of the Institute and utilised only for the purpose of the scheme; and
(b) the staff required to execute the same shall be recruited in accordance with the terms and conditions stipulated by the sponsoring organisations:
Provided that any money remaining unutilised shall be transferred to the endowment fund created under section 20 of this Act.