Powers and functions of Finance Committee

(1) The Finance Committee shall have following powers and discharge the following functions, namely:- (a) to examine and scrutinise the annual budget of the University and to make recommendations on financial matters to the Executive Council; (b) to consider all proposals for new expenditure and to make recommendations to the Executive Council; (c) to consider the periodical statements of accounts and to review the finances of the University from time to time, to consider reappropriation statements and audit reports, and to make recommendations thereon to the Executive Council; (d) to give views and to make recommendations to the Executive Council on any financial matters affecting the University, either on its own motion or on reference from the Executive Council or the Director. (2) The Finance Committee shall meet at least once in every six months. Three members of the Finance Committee shall form the quorum for a meeting. (3) The Chairman or in his absence, the Director shall preside over the meetings of the Finance Committee.