Amendment status not verified — confirm the current text below against the official source.
(1) The annual accounts of the University shall be prepared under the directions of the Executive Council. (2) The Executive Council shall prepare, before such date as may be prescribed by the regulations, the annual financial estimates for the ensuing year and place the same before the General Council. Registrar. Terms and conditions of employees. Insurance, pension and provident fund. University Fund. II of 1934. 5 of 1970. 40 of 1980. 2 of 1882. Annual accounts and financial estimates. 2003:Guj.9] The Gujarat National Law University Act, 2003. 13 (3) Where an expenditure in excess of the amount provided in the budget is required to be incurred, the Executive Council may, for reasons to be recorded in writing, incur expenditure subject to such conditions and restrictions as may be prescribed by the regulations and a report of such excess expenditure shall be made to the General Council at its next meeting. (4) The accounts of the University shall be audited by the auditors appointed by the Executive Council: Provided that the State Government may, whenever it considers necessary, direct that audit of the accounts of the University, including the institutions managed by it, shall be audited by such auditors as it may specify. (5) The accounts together with the audit report shall be placed before the Executive Council and shall also be submitted to the State Government. (6) The annual accounts and the Financial Estimates shall be considered by the General Council as its annual meeting. The General Council may pass resolutions with reference thereto and communicate the same to the Executive Council, which shall take them into consideration and take such action thereon as it thinks fit. The Executive Council shall inform the General Council at its next meeting of the action taken by it or its reasons for taking no action.