Transitory provisions.

Notwithstanding anything contained in this Act, the Director General may, with the prior approval of the Board and subject to availability of the 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 power or perform any duty which by or under this Act and regulations are to be exercised or performed by any authority of the University until such authority comes into existence in accordance with the provisions of this Act and the Regulations.