Finance Committee

The Finance Committee shall consist of such members as may be provided for in the Statutes and shall exercise such powers and perform such functions as may be prescribed. Notwithstanding anything contained in this Act and the Regulations, the First Vice Chancellor may, subject to the availability of funds, discharge all or any of the functions of the University for the purpose of carrying out the provisions of this Act and the Regulations and for that purpose may exercise any powers or perform any duties, which by this Act and the Regulations are to be exercised or performed by any authority of the University until such authority comes into existence as provided by this Act and the Regulations, and ratifies the same. All the permanent employees of the University shall be entitled to the benefit of the provident fund, and other beneficial scheme in accordance with such Regulations as may be framed in that behalf by the Executive Council.