Section 27 in The Rajiv Gandhi National Institute of Youth Development Act, 2012
Title: Endowment to other funds.
Without prejudice to the provisions contained in section 26, the Institute may,--
(a) set up an endowment fund with an amount of one hundred crore rupees to be maintained in the Public Account and any other fund for a specified purpose; and
(b) transfer monies from its fund to the endowment fund or any other fund.
Title: Accounts and audit.
(1) The Institute shall maintain proper accounts and other relevant records and prepare an annual statement of accounts, including the balance sheet, in such form as may be prescribed by the Central Government in consultation with the Comptroller and Auditor-General of India.
(2) The accounts of the Institute shall be audited by the Comptroller and Auditor-General of India and any expenditure incurred by him in connection with such audit shall be payable by the Institute 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 Institute 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 Institute.
(4) The accounts of the Institute 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 the Central Government shall cause the same to be laid before each House of Parliament.
Title: Pension and provident fund.
(1) The Institute shall constitute for the benefits of its employees, including the Director, such pension, insurance and provident fund scheme as it may deem fit, in such manner and subject to such conditions as may be provided by the Statutes.
(2) Where any such provident fund has been so constituted, 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: Appointment of staff of Institute.
All appointments of the staff of the Institute, except that of the Director, shall be made with the prior approval of the Central Government and in accordance with the procedure laid down in the Statutes,--
(a) by the Executive Council, if the appointment is made on the academic staff in the post of Assistant Professor or above or if the appointment is made on the non-academic staff in any cadre, the maximum of the pay-scale for which is the same or higher than that of an Assistant Professor; and
(b) by the Director, in any other case
Title: Power to make Statutes.
Subject to the provisions of this Act, the Statutes may provide for all or any of the following matters, namely:--
(a) the formation of departments of teaching and other academic units;
(b) the institution of fellowships, scholarships, exhibitions, medals and prizes;
(c) the classification of posts, terms of office, method of appointment, powers and duties and other terms and conditions of service of the officers of the Institute including the Chairperson, the Director, the Registrar and such other officers as may be declared as officers of the Institute by the Statutes;
(d) the constitution, powers and duties of the authorities of the Institute referred in clause (c) of section 11;
(e) the delegation of powers vested in the authorities or officers of the Institute;
(f) the code of conduct, disciplinary actions thereto for misconduct including removal from service of employees on account of misconduct and the procedure for appeal against the actions of an officer or authority of the Institute;
(g) the conferment of honorary degrees;
(h) the establishment and maintenance of halls, residences and hostels;
(i) the authentication of the orders and decisions of the Executive Council;
(j) any other matter which by this Act is to be, or may be, provided by the Statutes.