Amendment status not verified — confirm the current text below against the official source.
The Finance Committee- (1) There shall be a Finance Committee consisting ofthe following; (i) Vice-Chancellor :Chairperson (ex-officio); (ii) Principal Secretary/Secretary (Training & Technical Education) of the Government or his nominee (ex-officio); (iii) Principal Secretary/Secretary (Finance) ofthe Government or his nominee, (ex-officio); (iv) Principal Secretary or Secretary (Planning)/Director Planning of the Government or his nominee, (ex-officio); (v)Principal Secretary or Secretary (Higher Education) of the Government or his nominee; (vi) Pro-Vice Chancellors (ex-officio); (vii) Registrar (ex-officio); (viii) Two other members nominated by the Board from amongst its members of whom at least one should not be an employee ofthe University; (ix) Controller of Finance - Member-Secretary (ex-officio); (2) The term of the members ofthe Finance Committee other than the ex-officio members, shall be three years; (3) The functions and duties ofthe Finance Committee shall be as follows:- (a)to examine and scrutinize the annual budget of the University and to make recommendations on financial matters to the Board of Management; (b)to consider proposals for new expenditure and to make recommendations to the Board of Management; (c)all proposals relating to revision of grades, up gradation of the pay-scales and those items which are not included in the budget, shall be examined by the Finance Committee before they are considered by the Board of Management; (d)to consider the annual accounts and the financial estimates of the University prepared by the Controller of Finance and laidbefore the Finance Committee for approval and thereafter submitted to the Boardof Management; (e) the Finance Committee shall fix the limits for the total recurring and non-recurring expenditure for the year, based on income and resources of the University, and no expenditure shall be incurred by the University in excess of the limits so fixed, without the approval ofthe Finance Committee; 5/ÿ [PART IV_ DELHI GAZETTE :EXTRAORDINARY_ ' 28 # (f) to give its views and to make recommendations to the Board of Management on any financial question affecting the University either on its own initiative or on reference from the Board of Management; (g) to recommend the investment of any money belonging to the University, including any unapplied income, in such securities as it may, from time to time, think fit, or in the purchase or immovable property inIndia, with the like power of varying such investments from time to time. (4)The Finance Committee shall meet, at least, four times in a year; five members of the Finance Committee shall form the quorum at any meeting; (5) In case of difference of opinion among the members, the opinion of the majority of the members present shall prevail;