Section 39 in The Indian Institute of Management Act 2017
Title: Transitional provisions
(1) Notwithstanding anything contained in this Act:—
(a) the Board of every Institute functioning as such immediately before the commencement of this Act shall continue to so function until a new Board is constituted for that Institute under this Act, but on the constitution of a new Board under this Act, the members of the Board holding office before such constitution shall cease to hold office;
(b) every Academic Council or Faculty Council, as the case may be, constituted in relation to every Institute before the commencement of this Act shall be deemed to be the Academic Council constituted under this Act until an Academic Council is constituted under this Act for that Institute, but on the constitution of the new Academic Council under this Act, the members of the Academic Council or Faculty Council, as the case may be, holding office before such constitution shall cease to hold office;
(c) until the first regulations are made under this Act, the rules, and bye-laws of each Institute as in force, immediately before the commencement of this Act shall continue to apply to the Institute in so far as they are not inconsistent with the provisions of this Act.
(2) The Central Government may, without prejudice to the provisions of this Act, if it considers so necessary and expedient, by notification, take such measures, which may be necessary for the smooth transfer of the existing Institute to the corresponding Institute.
Title: Short title and commencement
(1) This Act may be called the Indian Institutes of Information Technology (Public-private Partnership) Act, 2017.
(2) It shall come into force on such date1 as the Central Government may, by notification in the Official Gazette, appoint.
1. 6th September, 2017 vide notification No. S.O. 2928(E) dated the 6 September, 2017, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
Title: Declaration of certain institutions as institutions of national importance
Whereas the objects of the Institutes mentioned in the Schedule are such as to make them institutions of national importance, it is hereby declared that each such Institute is an institution of national importance.
In this Act, unless the context otherwise requires,—
(a) “appointed day” means the date of establishment of the Institutes established under sub-section (2) of section 4;
(b) “Board”, in relation to any Institute, means the Board of Governors referred to in sub-section (1) of section 14;
(c) “Chairperson” means the Chairperson of the Board appointed under sub-section (2) of section 14;
(d) “Co-ordination Forum” means the Co-ordination Forum established under sub-section (1) of section 38;
(e) “Director” means the Director of the Institute;
(f) “existing Institute” means the Institute mentioned in column (3) of the Schedule;
(g) “industry partner” means an individual, or a trust established under the Indian Trusts Act, 1882, (2 of 1882) or a company established under the Companies Act, 2013 (18 of 2013) or society formed and registered under the Societies Registration Act, 1860 (21 of 1860) or a financial institution or a combination of one or more of such industry partners;
(h) “Institute” means any of the institutions mentioned in column (5) of the Schedule and such other Institutes established under section 11;
(i) “notification” means a notification published in the Official Gazette and the expression “notify” shall be construed accordingly;
(j) “prescribed” means prescribed by rules made under this Act;
(k) “public-private partnership” means such partnership under a scheme of the Central Government which provides for establishment of Institute involving collaboration between the Central Government, the State Government and industry partners;
(l) “Schedule” means the Schedule to this Act;
(m) “Senate”, in relation to any Institute, means the Senate thereof;
(n) “Statutes” and “Ordinances”, in relation to any Institute, mean the Statutes and Ordinances of the Institute made under this Act.
Title: Incorporation of Institutes
(1) On and from the commencement of this Act, every existing Institute, shall be a body corporate by the same name as mentioned in column (5) of the Schedule.
(2) On and from the appointed day, any other Institute of Information Technology as may be established under section 11 shall be a body corporate by such name as the Central Government may, by notification, specify.
(3) Every existing Institute or any Institute established under sub-section (2) shall have perpetual succession and a common seal, with power, subject to the provisions of this Act, to acquire, hold and dispose of property, both movable and immovable, and to contract, and shall, by its name, sue or be sued.