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[(1) The Vice-Chancellor shall, by the notification, constitute Finance Committee of the University and it shall consist of the following members, namely:-- (i) Vice Chancellor--Chairperson; (ii) Secretary to Government, Finance Department or an officer of Finance Department, not below the rank of Joint Secretary, deputed by him; (iii) Secretary to Government, Fisheries Department or an officer of the Fisheries Department, not below the rank of Joint Secretary, deputed by him; (iv) Director of Fisheries, or an officer not below the rank of Joint Director of Fisheries, deputed by him; (v) Two members nominated by the University Governing Council, from it; (vi) Finance Officer; and (vii) Registrar--Member Secretary.] (2) The Finance Committee shall have the following powers, namely:-- (a) to examine the annual accounts of the University and to advise the University Governing Council thereon; (b) to examine the annual budget estimates of the University and to advise the University Governing Council thereon; (c) to review the financial position of the University from time to time; (d) to make recommendations to the University Governing Council on all matters relating to the Finance of the University; (e) to make recommendations to the University Governing Council on all proposals involving expenditure for which no provision has been made in the budget or which involve expenditure in excess of the amount provided in the budget. [(3) The interval between two meetings of the Finance Committee shall not exceed three months. The quorum for a meeting is half the total number of members.] Substituted by Act 18 of 2021 published in K. G. Ext. No. 3384 dt. 15/11/2021 (w.e.f. 26/02/2021). Prior to the Substitution it read as: "(1) The University Governing Council shall constitute a Finance Committee consisting of the Vice-Chancellor, the Finance Secretary to Government, Higher Education Secretary, Finance Officer and two members chosen by the University Governing Council, one from among its non-official members and the other from among its ex-officio members who have expertise in the field. The Finance Committee shall meet once in three months." Inserted by Act 18 of 2021 published in K. G. Ext. No. 3384 dt. 15/11/2021 (w.e.f. 26/02/2021).