Amendment status not verified — confirm the current text below against the official source.
(1) The Finance Committee shall have the following powers and duties, namely: (i) to examine the Annual Budget estimates and to give advice and suggestions to the Executive Council thereon; THE ASSAM GAZETTE, EXTRAORDINARY. SEPTEMBER 7, 2010 2205 Legal Committee (ii) to make recommendations to the Executive Council relating to the finance of the University; (iii) to examine every proposal for new expenditure involving sum of money exceeding rupees one lac and to advise the Executive Council thereon; (iv) to review the financial position of the University periodically; (v) to suggest in general the means for the improvement of the financial position of the University; (vi) to consider and recommend revision of grades of pay and the grades of pay of new posts to the Executive Council; and (vii) to deal with such other matters relating to the financial matters of the University as may be prescribed by the Statutes and the Ordinances. (2) The Finance Committee may delegate any of its powers and duties conferred or imposed by or under this Act to the Vice-Chancellor.