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(1) The Finance Committee shall consist of: (a) The Vice-Chancellor - Chairman (b) The Registrar - Secretary (c) The Finance Officer (d) Such other members as may be prescribed in the Statutes. (2) The Finance Committee shall be the principal financial body of the University to take care of financial and shall, subject to the provisions of this Act, the Statutes and the Rules, coordinate and exercise general supervision over the academic policies of the University.