Private University Bill of A.P- draft placed on web for comments

AP State govt placed on web Private University Bill draft and invited comments/ discussion on the same before 30th Sept 2015. Salient futures of the bill:

• The University shall be a Green Field one and unitary in nature and shall not have power or provision to affiliate and recognize any college or institution to it.
• A Regulatory Authority shall be established by the Government for the purpose of providing a regulatory mechanism at the state level for working as an interface between the Government and the Regulatory Bodies for the purpose of ensuring appropriate standards of teaching, examination, research, extension programmes and protection of interests of the students.
• The University shall obtain accreditation from the National of Assessment and Accreditation Council (NAAC) within five years of its establishment. 
•  The Sponsoring body shall establish an Endowment Fund for the University with an amount specified in the Letter of Intent.The University if required may utilize 75% of the income from Endowment Fund for the development of infrastructure of the University and not to meet the recurring expenditure of the University.
• Every University shall establish a fund, which shall be called the General Fund to which fees, sponsored projects, consultancy etc shall be credited, These funds to be utilised for payment of salaries, loan interest, maintenance etc
• The Sponsoring body shall establish an Endowment Fund with a minimum amount of Rs.5.00 crore. The Sponsoring body shall procure a minimum of 30 acres of land within municipal limits and 40 acres in other areas, if not already available.The Sponsoring body shall construct buildings such as Administrative, Academic and other buildings such as student activity center, auditorium etc. with a minimum plinth area of 10,000 sqm. The sponsoring body should invest minimum of Rs 30 lakhs on library books ,Rs 200 lakhs on lab equipment and Rs 100 lakhs on IT infrastructure.
• The Sponsoring body shall start at least five post graduate academic departments.
• within five years  to provide on campus residential accommodation to at least 25% of students and 20% of faculty.