(1) The University for Research and Innovation retaining the title to a public funded intellectual property shall protect and utilise it in such manner as it may deem fit:



Provided that where the public funded intellectual property has such immense public interest that it is necessary or expedient for the Central Government to initiate the process for utilisation of such intellectual property, then such University shall assist the Central Government in providing for such utilisation, but the royalties or income received, if any, from such intellectual property shall be made over to such University.



(2) The income or royalties arising out of the public funded intellectual property shall be shared by the University for Innovation with the intellectual property creator in accordance with the provisions of any agreement which may be entered into in this regard between such intellectual property creator and such University.