Powers and functions of Executive Council

(1) The Executive Council shall have the following powers and functions, namely:- (a) to enter into, vary, carry out and cancel contracts on behalf of the University; (b) to determine the form of a common seal for the University and provide for its custody and use; (c) to accept trusts, bequests, donations and transfer of any movable or immovable property on behalf of the University; (d) to transfer by sale, or otherwise, any movable property on behalf of the University; (e) to borrow, lend or invest funds on behalf of the University on the recommendation of the Finance Committee; (f) to lay down policy for administering funds at the disposal of the University for specific purposes; (g) to make provisions for buildings, premises, furniture, apparatus and other means needed for the conduct of the work of the University; (h) to hold, control and arrange for administration of assets and properties of the University; (i) to approve the annual accounts and the budget estimates received from the Finance Committee; (j) to lay down terms and conditions of service and other guidelines approved by the State Government from time to time; and lay down the procedure for appointment of University/college teachers and non-vacation academic staff and fix their emoluments and norms of workload, conduct and discipline; (k) to create posts of University teachers, officers, non-vacation academic staff and other employees of the University, subject to prior approval of the State Government; (l) to exercise such other powers and perform such other functions as may be necessary for the efficient functioning of the University.