Amendment status not verified — confirm the current text below against the official source.
The Finance Committee.- (1) The Finance Committee shall consist of the following members, namely:- (a) the Vice Chancellor; Chairman Ex-officio; (b) a representative of the Secretary to Government in-charge of law not below the rank of Additional Secretary; (c) A representative of the Secretary to Government in-charge of finance not below the rank of Deputy Secretary; (d) two members nominated by the Syndicate from among its members of whom one shall be a University Professor and one shall be a person nominated to the Syndicate by the Government; (e) one member nominated by the Academic Council; and (f) the Registrar shall be a member. (2) The Finance Officer shall be ex-officio Secretary to the Finance Committee. (3) Members nominated to the Finance Committee under clause (d) and (e) of sub- section(1) shall hold office for a period of three years. 23 (4) The annual accounts and financial estimates prepared by the Finance Officer shall be laid before the Finance Committee for consideration and comments. (5) The Finance Committee shall recommend the limits of recurring expenditure and the total non-recurring expenditure for the year based on the income and resources of the University which in the case of productive works may include the proceeds of loans. (6) The Finance Committee shall, – (i) meet at least once in three months to examine the accounts and to scrutinize proposals for expenditure; (ii) review the financial position of the University from time to time; (iii) make recommendations to the Syndicate on every proposal involving investment or expenditure for which no provision has been made in the annual financial estimates and which involves expenditure in excess of the amount provided for in the annual financial estimates; (iv) prescribe the methods and procedure and forms for maintaining the accounts of the University; (v) make recommendations to the Syndicate on all matters relating to the finances of the University; and (vi) perform such other functions as may be prescribed by the Statutes.