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The Finance Committee.- (1) The Finance Committee shall consist of the following, namely:- (i) The Chancellor or his nominee - Chairperson (ii) The Vice-Chancellor - Member (iii) The Registrar - Member (iv) The Finance Officer - Secretary (v) One nominee of the Sponsoring Body - Member (vi) One nominee of the Chancellor with expertise in Banking, Finance or Accountancy – Member, and (vii) Such other members as may be specified by the Statutes. (2) The Finance Committee shall be the Principal Financial Body of the University to take up financial matters and shall subject to the provisions of this Act, Statutes and Rules undertake coordination and exercise general supervision over the financial matters of the University. (3) The Finance Committee shall meet at least four times in a year. (4) The quorum for every meeting of the Finance Committee shall be one third of the membership of the Council.