These Rules may be called the “UNIVERSITY OF WAH STUDENT RESEARCH FUND RULES”.
These Rules shall come into force from the date of execution of the University of Wah Student Research Fund Trust Deed.
The Fund bears the following Governing bodies
- Board of Trustees
- Executive Committee
- Board of Trustees (“Board”)
- Executive Committee (“EC”)
As provided in clause 5(e) of the Trust Deed dated 7 February, 2017. the Board hereby constitute an Executive Committee, in order to manage financial and operational activities of the Fund. The Committee shall consist of not less than 05 members. However, all members shall be ex-officio members.
Structure of Executive Committee
|Deputy Director Student Affairs||Secretary|
Concerned Chairperson(s)/ Directors (s)
(Invitation to Co-opted members will be extended by the Chairman of the Committee on behalf of the EC. Co-opted members will form part of quorum and can also cast vote, except where conflict of interest exist or established, such member(s) cannot cast vote.)
- Powers and Functions
The EC will function on behalf and under the direction of the Board. EC will be responsible for the management of all aspects of the Fund. EC will also guide, supervise and explore various activities for raising funds. EC is responsible for preparing and presenting, to the Board, the progress reports of the activities at-least once a year. To institute, conduct, defend or abandon any legal proceeding by or against the Fund or its officers or otherwise, concerning the affairs of Fund. Decisions by EC will be made by majority. EC may recommend any amendment, addition or deletion of any rule, to the Board for approval.
- EC shall meet as often as necessary for carrying out the objectives of this Fund and shall conduct their affairs according to mutual agreement.
- Three members shall form a quorum.
- Meeting of the EC of the Fund may be called after giving 7 days’ notice, however in case urgent meeting is required, and that may be called on 3 days’ notice in writing.
- Management & Operations of Fund
- Scope of Funding
Except seed money all Fund proceeds including profit and donations will be subject to utilization under following categories as under.
All external funding for specific category/ purpose will be considered as donation to the fund and will be utilized for the purpose against which donated or under the same category.
- Operational Bindings
- Scholarships/ Qrz-e–Hasna
All funding shall be in line with the relevant applicable provisions of UW Scholarship Guidelines. However, an amount not exceeding 10% of donation(s) each year will be specifically meant for funding under this category as on long as principal amount is below Rs. 100.00 million.
- Funding to PhD Students
The Fund not only provides scholarships and stipend to the selected PhD students but also provides following financial support as an alternate option:-
- Tuition Fee Waivers
Limited no. of PhD students will be granted tuition fee waivers, if they are willing to sign an undertaking for completion of the program and doing TA/RA duty (5 contact hours per week). The tuition fee waiver will be granted for on campus duration to full time students only, subject to satisfactory academic performance of the scholar.
- Payment of supervisor remuneration, thesis evaluation fee and Research Grant
PhD students will be facilitated in form of following support to facilitate their research and academic activities:
- Grants for attending conferences, seminars and publishing of research papers.
- Remuneration to PhD Supervisor on successful PhD thesis defense by the scholar and completion of all PhD degree requirements.
- Lab/research material for research.
- Eligibility- Qrz-e–Hasna
The eligibility criteria are determined on the basis of following aspects:
Students with following attributes are ineligible to avail the Loan:
- Has been involved in any disciplinary case / subversive activity.
- Has been drawing any other scholarship(s) even from any other institution(s).
- Has failed in any subject/ course.
- Incorrect / false/ not verifiable/ information provided on Application Form.
- Defaulter of University dues.
Students who withdraw from University/migrate while receiving scholarship/ financial aid will be subject to a return of funds they have received.
- Refund of Loan
Every beneficiary shall be required to submit a guarantee acceptable to the Executive Committee for the return of the loan as per agreed mode and schedule. The guarantor shall undertake to pay the amount to the University in case of default by the beneficiary.
- Mode of Repayment of Loan
The maximum period of repayment of loan is 6-Years from the date of disbursement of first installment. The beneficiary shall be encouraged to repay the loan as early as possible. Latest should be in monthly installments (minimum of Rs 10,000/-) after six months from the date of first employment or one year from the date of completion of studies at UW, whichever is earlier.
To ensure no undue burden is placed on the recipients of this assistance, repayment plan can also be strictly income based (25% of the pre-tax income of initial seven years after leaving UW). The only evidence required from beneficiaries of the programs shall be copies of their national income tax returns. However, any balance payable due at 10 years from initial payment has to be refunded in full as the last installment.
All research funding will be subject to approval and sanction of EC. All funding proposal may be processed as per underlying procedure. However any proceed(s) realized in consequence thereof will be credited to the Fund in the proportion of funds consumed.
All faculty member(s) willing to conduct research project/ work are required to submit technical and financial proposal to the Secretary EC for consideration and approval. Accordingly, release of funds will be subject to terms and conditions as assigned by the Committee or other-wise laid down in the guidelines referred for commercial based Projects.
All applicants are also required, to submit desired information as given in (Annexure B) for grant of financial award for publication in HEC/UW recognized local/ international Journals/ Magazines.
- Commercial based Project (ORIC)
Allocation of funds against all commercial based project proposals shall be line with following operating procedures and guidelines given at Annexure C.
- Books of Accounts
- Books of accounts should be maintained according to the Generally Acceptable Accounting Principles as adopted.
- Separate bank accounts shall be maintained and shall be jointly operated by any two designated Officers nominated by the Executive Committee from time to time.
- The financial year of the Fund shall be from first day of October to the 30th day of September.
The Fund accounts shall be audited by an audit firm duly registered with ICAP and duly appointed by the Executive Committee for this purpose.