Amendment status not verified — confirm the current text below against the official source.
(1) The FinanceCommitteeshallconsist of the following members, namely: (0 the Vice-Chancellor of the University shall be the ex-officio Chairman of the Committee: (iO one member of the Board to be nominated by the President; one representative of the Trust; (ivo one Dean of the University, by rotation, to be nominated by the Vice-Chancellor and (v) one expert in the field of Finance to be nominated by the President. (2) The Executive Registrar shall be the non-member Secretary of the Committee. (3) An outgoing member shall be eligible for re-nomination for the next termi (4) The term of office of a member other than the ex officio membershallbe thréeyears. 18.Subject to the other provisions of this Act, the Finance Committee shalt exercise the powers and perform the functions mentioned below, namely: (0 Examine the annual accounts and annual budget estimates of the University and advise the Board thereon; Searchable PDF created by OCR.space (Free Version) (iif) Review the financial position of the University from time to time; Make recommendations to the Board on all financial policy matters of the University: Make recommendations to the Board on all proposals involvft•tg raising of funds. receipts and expenditure; Provide guidelines for investments of surplus funds: Make recommendations to the aoard on all proposals involving expenditure for which no provision has been made in the budget or for which expenditure in excess of the amount provided in the budget has been Of has to be incurred; (vii) Examine all ptoposels relating to revision of scales, upgradation of scales and those items which are not included in the budget. before they are placed before the Board ; and (viii) Exercise such other powers and perform such other functions as may be conferred or imposed upon it by the Regulationsv 19.(1) The Vice-Chancellor shall be appointed by the Board out of a panel of names recommended from time to time by a Committee consisting of the following members, namely: — (i) an eminent person to be nominated by the President: (if) an eminent educationist to be nominated by the President; and (iii) one member of the Board to be nominated by the President. (2) The President shall designate one member as the Chairman of the Committee. Searchable PDF created by OCR.space (Free Version) Powots and d'UtiQS (3) The terms of office of the Vice-Chancellor shall be determined by the Board fora period but not exceeding five years. (4) Notwithstandinganythingcontained in sub-section (f), the Vice-Chancellor of the University holding the office at the commencementof thisAct, shallbe deemedto have been appointed as the first Vice- Chancellor. (5) Where a vacancy in the office of Vice-Chancelloroccurs and it can not be conveniently and expeditiously filled up in accordance with the provisions of sub-section (1) and if there is any emergency the President, in consultation with the Board, may appoint any suitable person to be the Vice-Chancellor and from time to time. extend the term for a period not exceeding one year, (6) The conditions of service of the Vice-Chancellor, including salary, allowancesr leave, pension and provident fund shall be such as may be prescribed bythe Board and until so prescribed. shall be determined by the President 20, (1) The Vice-Chancellor shall be the Chief Executive and Academic Officer of the University and shall preside over the Chanc000rv meetings of the Academic Countil and Finance Committee. u2) Without prejudice to the generality of the provision contained in sub-section (1 the Vice-Chancellor shall (iii) exercise general supervision and control over the affairs of the University; ensure implementation of the decisions of the Authorities of the University ; be responsible for imparting instruction and maintenance of discipline in the University; and exercise such other powers and perform such other duties as may be assigned to him under this Act or the Regulations or as may be delegated to hlrn by the Board or the President, as the case may be. (3) Where any matter is of urgent nature requiring immediate action and the same cannot be immediately dealt with by Searchable PDF created by OCR.space (Free Version) oeuuva '0isvat. the President or an Authority or a body of the University empowered under this Act to deal with it. the Vice-Chancellor maytake such action as he may deem fit and he shall forthwith report the action taken by him to the President or Authority or body of the University who or which. in the ordinary course. would have dealt with the matter : Provided that if suchAauthority or body is of the opinion that such action ought not have been taken by the Vice-Chancellor. it may refer the matter to the President who may either confirm the action taken by the Vice-Chancellor or annul the same or modify it in such manner as he thinks fit. and thereupon jt shall cease to have effect or as the case may be, shall take effect in such modified form, in as much as that such modification or annulment shall be without prejudice to the validity of anything previously done by or under the orders of the Vice-Chancellor. (4) Where the exercise of the power by the Vice- Chancellor under sub-section (3) involves the appointment of any person, such appointment shall be confirmed by the competent authority empowered to approve such appointment. in accordance with the provisions of this Act and the Regulations. not later than six months from the date of order of the Vice-Chancellon otherwise the same shall cease to have éffect on the expiration of a period of six months from the date of order of the Vice- Chancellor.