Section 34 in The National Forensic Sciences University Act, 2020

Title: Corpus of University.

Description: The University may receive funds from the Central Government or State Governments or other sources or use its funds to maintain and operate a corpus of the University.

Title: Fund

Description: (1) The University shall maintain a Fund to which shall be credited— (a) all moneys provided by the Central Government; (b) all moneys received from State Governments; (c) all fees and other charges received by the University; (d) all moneys received by the University by way of grants, gifts, donations, benefactions, bequests or transfers; (e) all interest from corpus, or any other such earnings; (f) any loans taken by the University; (g) the moneys received by the University from the collaborating industries in terms of the provisions of the Memorandum of Understanding entered between the University and such industry for establishment of sponsored chairs, fellowships or infrastructure facilities of the University; and (h) all moneys received by the University in any other manner or from any other source. (2) All moneys credited to the Fund of the University shall be deposited in such banks or invested in such manner as the University may, with the approval of the Finance Committee, decide. (3) The Fund of the University shall be applied towards the expenses of the University including expenditure incurred in the exercise of its powers and discharge of its functions by or under this Act.

Title: Accounts and audit.

Description: (1) The University shall maintain proper accounts and other relevant records and prepare an annual statement of accounts including the balance-sheet, in such form and accounting standard as may be specified, by notification, by the Central Government in consultation with the Comptroller and Auditor-General of India. (2) The accounts of the University shall be audited by the Comptroller and Auditor-General of India and any expenditure incurred by it in connection with such audit shall be payable by it to the Comptroller and Auditor-General of India. (3) The Comptroller and Auditor-General of India and any person appointed by him in connection with the audit of the accounts of the University shall have the same rights, privileges and authority in connection with such audit as the Comptroller and Auditor-General of India has in connection with the audit of the Government accounts, and, in particular, shall have the right to demand the production of books, accounts, connected vouchers and other documents and papers and to inspect the offices of the University. (4) The accounts of the University as certified by the Comptroller and Auditor-General of India or any other person appointed by him in this behalf together with the audit report thereon shall be forwarded annually to the Central Government and that Government shall cause the same to be laid before each House of Parliament.

Title: Pension and provident funds.

Description: (1) The University may constitute for the benefit of its employees such provident or pension fund or provide such insurance scheme as it may deem fit in such manner and subject to such conditions as may be laid down in the Statutes. (2) Where any provident fund has been constituted under sub-section (1), the Central Government may declare that the provisions of the Provident Funds Act, 1925 (19 of 1925) shall apply to such fund as if it were a Government provident fund.

Title: Annual report of University.

Description: (1) The annual report of the University shall be prepared by the Vice-Chancellor, which shall include, among other matters, the steps taken by the University towards the fulfilment of its objects and an outcome based assessment of the research being undertaken by it, and be submitted to the Board of Governors on or before such date as may be specified and the Board of Governors shall consider the report in its annual meeting. (2) The annual report, as approved by the Board of Governors, shall be published and placed on the website of the University. (3) The Vice-Chancellor shall prepare and release for every year a report, in English and in Hindi, the working of the University in the previous year on or before the expiry of nine months from the close of financial year, and a copy of the same, together with an audited statement of accounts showing the income and expenditure for the previous year shall be submitted to the Central Government within that stipulated time, and the same may be caused to be laid before each House of Parliament.