The funds raised by way of subscription be treated as corpus fund. All other funds, such as donations, grants, interest accrued etc. shall be utilized for furtherance of the objects of society.

PURPOSE WISE SENDING OF THE FUNDS

The expenditure on the various objects of the APS shall broadly be laid out in the following manner.

DEPOSITS AND LOANS

He provisions of Section 35 and 36 of the Bombay Public Trust Act, 1950 shall be applicable for the transactions relating to the Deposits and loans made by the Society.

ACQUISITION AND ALIENATION OF IMMOVABLE PROPERTY

The provisions of Section 35 and 36 of the Bombay Public Trust Act, 1950 shall be applicable for acquisition and alientation of the immovable property of the APS

CHANGE OF NAME AND OBJECT CLAUSE

The provisions of Section 12 and 12A of the Societies Act, 1860 shall be applicable for making any alteration, extension or abridgement of the purposes of the APS, or for change of name clause of the APS. In the event that any of the office bearers is unable to complete his term, the Governing Body may from amongst themselves appoint a suitable member to hold that post for the remaining period or tenure of the Governing Body In carrying out this change, the change in office bearers would also take place by the resolution of the Governing Body.

DISSOLUTION OF THE APS

The APS may be dissolved by a resolution to that effect passed by three fifth of the members of the APS present at a General Body Meeting. In case of dissolution, all the funds and assets of the APS if any after dissolution shall donated to the Walchand College of Engineering, Sangli.

CERTIFICATE

This is to certify that this is the true copy of the Rules and Regulations of the 'ASSOCIATION OF PAST STUDENTS', WALCHAND COLLEGE OF ENGINEERING SANGLI.