Transitory provisions.

Notwithstanding anything contained in this Act,-

(i) the Chairman of the Trust holding the post as such immediately before the commencement of this Act shall be the first President of the University, (ii) one of the trustees nominated by the Trust shall be the first Director of the University; (iii) the first Director may, with the prior approval of the President and subject to the 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 for that purpose, may exercise the powers and perform the duties which by or under this Act are required 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. The Trust shall review and monitor such actions taken by the Director.