Powers of the sponsoring body

Powers of the sponsoring body.- The sponsoring body shall have the following powers with reference to the Institute, each of which may be exercised by the Sponsoring Body at its discretion, namely:-

1. (i) to appoint or re-appoint the Chancellor of the Board of Governors;
2. (ii) to constitute the Board of Governors of the Institute;
3. (iii) to nominate upto four persons as members of the Board of Management each of which shall be eminent professionals or researchers;
4. (iv) to determine the source of funds to be contributed to the Institute Endowment Fund;
5. (v) to determine the policies for application and spending of moneys by the Institute;
6. (vi) to resolve a Conflict at the meeting of the Board of Governors in the manner provided for in this Act.