(1)Each of the existing Universities, specified in column III of Schedule I, with effect from the date of commencement of this Act, shall be deemed to be constituted under this Act for the territorial jurisdiction as specified in the Schedule II and Schedule III.

(2)The State Government may, from time to time, by notification in the Official Gazette, constitute any new University under this Act by such name, for such area/ territorial jurisdiction and with effect from such date, as may be specified by it, and insert necessary entries in Schedule II for Teaching Intensive Affiliating University and Schedule III for Research Intensive Unitary University, as the case may be; and may for that purpose or any other purpose specified in that behalf diminish, increase or alter the area of any existing or new University, by amending the respective Schedule, by the said notification, and thereupon the entries in Schedule II or Schedule III, as the case may be, shall stand amended accordingly, and all educational institutions, whether colleges, institutions, autonomous or empowered autonomous colleges, empowered autonomous cluster institutions, post-graduate departments, or the Study Centres, by whatever name called, within the area of the new University, which are affiliated or constituted to or recognised by the existing University shall, from the date aforesaid, stand affiliated or constituted to or recognised by the new University.

(3)Each University shall be competent to acquire and hold property, both movable and immovable, to lease, sell or otherwise transfer or dispose of any movable or immovable property, which may vest in or be acquired by it for the purposes of the University, and to contract and do all other things necessary for the purposes of this Act:

Provided that,no such lease, sale or transfer of such property shall be made without the valuation, made thereof by the approved valuer appointed by the University, and with the prior consent of the State Government.