Amendment status not verified — confirm the current text below against the official source.
32. (1) There shall be a Finance Committee consisting of the following members, namely:- (i) the Vice-Chancellor who shall be the chairperson thereof; (ii) one professor, by rotation, to be nominated by the General Council; (iii) one member nominated by the Executive Council from amongst its members; (iv) the Registrar, (v) the Finance Officer who shall be its Member Secretary. (2) The nominated members of the Finance Committee shall hold office for a period of two years. (3) The Finance Committee shall have the following powers, duties and functions, namely:- (i) to examine and scrutinize the annual budget of the University and to make recommendations on financial matters to the Executive Council; (ii) to consider all proposals for new expenditure and to make recommendations to the Executive Council; (iii) to consider the periodical statements of accounts and to review the finances of the University from time to time and to consider re-appropriation statements and audit reports to make recommendations to the Executive Council; (iv) to give its views and to make recommendations to the Executive Council on any financial matter affecting the University either on its own initiative or on reference from the Executive Council or the Vice Chancellor. (4) Unless a proposal having financial implication has been recommended by the Finance Committee, the Executive Council shall not take decision thereon and if the Executive Council disagrees with the recommendations of the Finance Committee, it shall return the proposal to the Finance Committee with the reason for the disagreement and if the Executive Council again disagrees with the recommendations of the Finance Committee then the decision of the Executive Council shall be final.