Court.

(1) The constitution of the Court and the term of office of its members shall be prescribed by the Statutes. (2) Subject to the provisions of this Act, the Court shall have the (a) to review, from time to time, the broad policies and programmes of the University and to suggest measures for the improvement and development of the University; (b) to consider and pass resolution on the annual report, annual budget, annual account of the University and on the audit report of such accounts; (c) to advise the Chancellor in respect of any matter which may be referred to it for advice; and (d) to perform such other functions, as may be prescribed by the Statutes. (1) The Finance Committee shall examine the accounts and scrutinize the proposals for expenditure and shall submit the annual budget to the Executive Council for approval. No expenditure in the budget shall be incurred by the University without the prior approval of the Finance Committee which shall fix limits for the total recurring and non-recurring expenditure for the year based on the resources and the income of the University. No expenditure shall be incurred by the University in excess of the limits so fixed. (2) It shall examine and recommend to the Executive Council the creation of teaching and other posts. (3) The annual accounts and the official estimates of the University shall be laid before the Finance Committee for its consideration and comments thereon and thereafter submitted to the Executive Council for approval.