(1)

The University shall constitute, for the benefit of its officers, teachers, clerical staff and servants, in such manner and subject to such conditions as may be prescribed by the Statutes, such pension, insurance and provident funds as it may deem fit.

(2)

Where any such pension, insurance or provident fund has been so constituted, [or where any such pension, insurance or provident fund has been constituted by a college under rules which have been approved by the Central Government] [Inserted by Act 24 of 1943, s.14.], the Central Government may declare that the provisions of the Provident Funds Act,

[1925 (19 of 192)] [Substituted by Act 32 of 1940, 5.3, for " 1897" ], shall apply to such funds, as if it were a Government Provident Fund.

[* * * * *] [The heading "TRANSITORY PROVISIONS" omitted by Act 24 of 1943, S.15.]