Amendment status not verified — confirm the current text below against the official source.
(I) TI1e Finance Committee shall consist of the following members, namely:- (i) the Director General, who shall be the Chairman of the Committee; Power$ and function.s of advisorv council. Finance committee. PART IV J GUJARAT GOVERNMENT GAZETl'E, EX. 08-10-2018 POWC($ and functions of finanoo committee. (ii) one member of the Board, to be nominated by the Board; (iii) one Direccor or Dean of the University, to be nominated by the Director General; (iv) one Director from each of non-co-located schools or centers or institutions affiliated to the Univcrsiry; (v) the Secretary to the Govenunent of Gujarat, Finance Department, ex-officio, to be nominated by the Finance Department; (vi) the Secretary to the Government of Gttjarat, Department of Science and Technology, ex-Qfficio; and (vii) one expert in the field of finance, to be nominated by the Board. (2) The Registrar shall be the Secretary of the Finance Committee. (3) The term of office of the members other than the ex-officio members shall be three years. (4) Any nominated member may resign from his office by writing under bis hand addressed to the Chairman of the Finance Committee and his resignation shall take effect from such date it is accepted by the Chairman of the Finance Committee. 20, Subject to other provisions of this Act, the Finance Committee shall exercise the following powers and perform the following functions, namely:- (i) (ii) (iii) to examine the am1ual accounts and annual budget estimates of the University, its schools or institutions or centers and advise the Board thereon; to review from time to time the financial position of the University; to make recommendations to the Board on all financial policy matters of the University; (iv) to make recommendations to the Board on all proposals involving raising of funds, receipts and expenditure; (v) to provide guidelines for investment of surplus funds; (vi) to make recommendations to the Board on all proposals involving expenditure for which no provision has been made in the budget or for which expenditure in excess of the amount provided in the budget needs to be incurred; (vii) to examine all proposals relating to the revision of pay- scales, up gradation of the scales and those items which arc not included in the budget prior to placing before the Board; (viii) to approve the expenditure of the University to the extent and manner as may be prescribed; (ix) to decide the principles of financial delegation and recommend to the Board; 17-13 17- 14 Director General. GUJARAT GOVERNMENTGAZE1TE, EX. 08-10-2018 ( PART TV (x) to decide the principles of procurement process and rcconunend to the Board; and (xi) to exercise such other powers and perform such other functions as may be conferred or imposed upon it by the regulations.