(1) There shall be a University Fund which shall include--
         (a) any contribution or grant made by the Central Government or an instrumentality of the Central Government;
         (b) any contribution or grant made by the State Governments;
         (c) any contribution from the shipping companies, off-shore construction companies and diving companies;
         (d) any bequests, donations, endowments or other grants made by any private individual or institution;
         (e) income received by the University from fees and charges; and
         (f) amounts received from any other source.
     (2) The said fund shall be utilised for such purposes of the University and in such manner as may be prescribed by the Statutes and the Ordinances.