(1) The assets and liabilities of the Jammu
Division and the Kashmir Division of the University of Jammu and Kashmir,
existing immediately before the commencement of this Act, shall form the
assets and liabilities of the University of Jammu and University of Kashmir
respectively.
(2) The assets and liabilities of the Central Unit of the University of Jammu and Kashmir, existing immediately before the commencement of this Act, shall be apportioned between the University of Jammu and the University of Kashmir in such manner as the Chancellor in consultation with the ProChancellor may determine.
(2) The assets and liabilities of the Central Unit of the University of Jammu and Kashmir, existing immediately before the commencement of this Act, shall be apportioned between the University of Jammu and the University of Kashmir in such manner as the Chancellor in consultation with the ProChancellor may determine.