Act Number: 19

Act Name: The National Institutes of Food Technology, Entrepreneurship and Management Act, 2021.

Year: 2021

Enactment Date: 2021-07-30

Long Title: An Act to declare certain institutions of Food Technology, Entrepreneurship and Management to be the institutions of national importance and to provide for instructions and research in food technology, entrepreneurship and management and for the advancement of learning and dissemination of knowledge in such branches and for matters connected therewith or incidental thereto.

Ministry: Ministry of Food Processing Industries

Department: Department of Food Processing Industries

Section 8: Institutes to be not-for-profit legal entity.
    (1) Each Institute shall be a not-for-profit legal entity and no part of the surplus, if any, in revenue of the Institute, after meeting all expenditures in regard to its operations under this Act, shall be invested for any purpose other than for the growth and development of the Institute or for conducting research therein.
     (2) Each Institute shall strive to raise funds for self-sufficiency and sustainability.
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