Incorporation

(1) The first Chancellor and the first Vice-Chancellor of the University University who shall be persons appointed in this behalf by the Government by notification and the first members of the Court, the Executive Council and the Academic Council and all persons who may hereafter become or be appointed as such officers or members, so long as they continue to hold such office or membership, are hereby constituted a body corporate by the name of the “Maharshi Dayanand University”. (2) The University shall have perpetual succession and a common seal with power to acquire, hold and dispose of property, and to contract, and may by the said name sue or be sued. (1) The Finance Officer shall be a whole-time salaried officer of the University and shall be appointed by the Executive Council on the recommendations of the Selection Committee, on such terms and conditions as may be prescribed by the statutes. (2) The Finance Office shall be ex-officio secretary of the Finance Committee, but shall not be deemed to be a member of such committee. (3) When the office of the Finance Officer is vacant or when the Finance Officer is by reason of illness or any other cause is unable to perform the duties of his office, the duties of the office shall be performed by such person as the Vice-Chancellor may appoint for the purpose. (4) The Finance Officer shall - (a) exercise general supervision over the funds of the University and shall advise it as regards its financial policy; and (b) perform such other functions as may be assigned to him by the Executive Council or as may be prescribed by the Statues. (5) Subject to the control of the Executive Council, the Finance Officer shall – (a) hold and manage the property and investments of the University including trust and endowed property; (b) ensure that the limits fixed by the Finance Committee for recurring and non-recurring expenditure for a years are not exceeded and that all moneys are expended on the purpose for which they are granted or allotted; (c) be responsible for the preparation of annual accounts and the budget of the University and for their presentation to the Executive Council; (d) keep a constant watch on the state of the cash and bank balances and on the state of investments; (e) watch the progress of the collection of revenue and advise on the method of collection to be employed; (f) ensure that the registers of buildings, land, furniture and equipment are maintained upto date and that stock checking of equipment and other connected materials in all offices, special centres, specialised laboratories, colleges and institutions maintained by the University is conducted; (g) bring to the notice of the Vice-Chancellor any unauthorised expenditure and other financial irregularities and suggest action to be taken against the person responsible for it; (h) call for from any officer, centre, laboratory, college or institution maintained by the University, any information or returns that he may consider necessary for the performance of his duties. (6) The receipt of the Finance Officer of the person or persons duly authorised in this behalf by the Executive Council for any money payable to the University shall be sufficient discharge for payment of such money. i) Each employee who has completed one year's service shall make within such time, in such form, as may be prescribed, a nomination for the purpose of Clause-1. ii) If an employee has a family at the time of making a nomination, the nomination shall be made in favour of one or more member(s) of his family, and any nomination made by such employee in favour of a person who is not a member of his family shall be void. iii) If at the time of making a nomination the employee has no family, the nomination may be made in favour of any person or persons but if the employee subsequently acquires a family, such nomination shall forthwith become invalid and the employee shall make, within such time as may be prescribed a fresh nomination in favour of one or more members of his family. iv) A nomination, may subject to provisions of (ii) and (iii) above, be modified by an employee at any time after giving to his employer a written notice, of his intention to do so. v) If a nominee predeceases the employee, the interest of the nominee shall revert to the employee who shall make a fresh nomination, in the prescribed form, in respect of such interest. vi) Every nomination, fresh nomination or alternation of nomination, as the case may be, shall be sent by the employee to his employer, who shall keep the same in his safe custody. vii) If there is no nomination or if the nomination made does not subsist, the gratuity shall be paid in the manner indicated below :- (a) If there are one or more surviving members of the family as in the following sub-clauses (aa), (bb), (cc) and (dd) to all such members in equal shares; aa) wife or wives, in the case of a male employee; bb) husband in the case of a female employee; cc) sons including steps sons and adopted sons; dd) unmarried daughters including step daughters and adopted daughters. b) If there are no such surviving members of the family as in Clause (a) above, but there are one or more members as in the following sub-clauses (aa), (bb), (cc), (dd), (ee) and (ff) to all such members in equal shares; aa) widowed daughters including step daughters and adopted daughters. bb) Adoptive parents in the case of individuals whose personal law permits adoption. cc) brothers below the age of eighteen years including step brothers; dd) unmarried sisters and widowed sisters including step sisters; ee) married daughters; and ff) children of pre-deceased son. Note : 1 The right of a female member of the family or that of a brother, of an employee who dies while in service or after retirement, to receive the share of gratuity shall not be affected if the female member marries of remarries or the brother attains the age of eighteen years, after the death of employee and before receiving her of his share of the gratuity. 2 Where gratuity is granted under this rule to a minor member of the family of the deceased employee, it shall be payable to the guardian on behalf of the minor.