Section 37
Sponsored schemes.
The Rajiv Gandhi Institute of Petroleum Technology Act, 2007
About this Act
An Act to declare the institution known as the Rajiv Gandhi Institute of Petroleum Technology to be an institution of national importance and to provide for its incorporation and for matters connected therewith.
Notwithstanding anything 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, a consultancy assignment, a teaching programme or a chaired
professorship or a scholarship, 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 organisation:
Provided that any money remaining unutilised under clause (a) shall be transferred to the endowment fund created under section 25.
(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 organisation:
Provided that any money remaining unutilised under clause (a) shall be transferred to the endowment fund created under section 25.