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The Indian Institutes of Management Act, 2017

[Act No. 33 of 2017]

[31st December, 2017.]

Title Indian Institutes of Management Act, 2017
Sections Particulars
Chapter I Preliminary
1. Short title and commencement
2. Declaration of certain institutions as institutions of national importance
3. Definitions
Chapter II The Institutes
4. Incorporation of Institutes
5. Effect of incorporation of Institutes
6. Objects of Institutes
7. Powers and functions of Institute
8. Institutes to be open to all irrespective of sex, race, creed, caste or class
9. Institute to be not-for-profit legal entity
Chapter III The Authorities of Institutes
10. Board of Governors
11. Powers and functions of Board
12. Term of office of, vacancies among, and allowances payable to members of Board
13. Resignation of Chairperson
14. Academic Council
15. Power and functions of Academic Council
16. Director
17. Initiation of inquiry
18. Custodian of records, etc.
19. Role of members of Society
20. Committees and other authorities
Chapter IV Accounts and Audit
21. Grants by Central Government
22. Fund of Institute
23. Accounts and audit
24. Books of account to be maintained by Institute
25. Appointment of auditors
26. Annual report of Director
27. Board to consider statement of accounts
28. Annual report of Institute
Chapter V Coordination Forum
29. Establishment of Coordination Forum
30. Functions of Coordination Forum
Chapter VI Miscellaneous
31. Acts and proceedings not to be invalidated by vacancies, etc.
32. Return and information to be provided to Central Government
33. Institute to be public authority under Right to Information Act
34. Power of Central Government to make rules
35. Power to make regulations
36. Ordinances how made
37. Rules and regulations to be laid before Parliament
38. Power to remove difficulties
39. Transitional provisions
The Schedule See section 4(1)

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