Certain restrictions in respect of financial matters

The University shall not divert earmarked funds for other purpose, or revise the scales of pay of it staff or implement any scheme which involves any matching contribution from the Government or which imposes a recurring liability on the Government after the assistance from the sponsoring authority ceases without the prior written approval of the Government: Provided that this section does not apply to exigencies where the University meets the expenditure within the approved budget or in respect of schemes or programmes fully financed (100%) by other agencies / Government for specified periods: Provided further that the Finance Committee may authorize the creation and filling up of posts of teachers for a period not exceeding two years, but any such post shall not be continued or created afresh for any period beyond the said period of two years without the prior written approval of the Government.