Section 23: Restriction on disposals of land by University or colleges

Neither the University nor any college of the University shall dispose of or charge any land or an interest in any land (including any land transferred to the University or a college by this Act) except with the prior written consent, either general or special, of the President:
Provided that such consent shall not be required in the case of any lease or tenancy at a rack-rent for a term not exceeding 21 years or any lease or tenancy to a member of the University for residential purposes.