Section 8. Institutes to be not-for-profit legal entity
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Act
National Institutes of Food Technology, Entrepreneurship and Management Act, 2021
Section number
8
Section reader
The National Institutes of Food Technology, Entrepreneurship and Management Act, 2021
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.
