Finance Committee

Finance Committee.—(1) There shall be a Finance Committee constituted by the Board of Governors consisting of the following members, namely:—

1. (i) Vice-Chancellor;
2. (ii) two members nominated by the Board of Governors from its members; and
3. (iii) such other members as may be prescribed by the Statutes.

1. (2) The members of the Finance Committee nominated from the Board of Governors, other than the Vice-Chancellor, shall hold office so long as they continue as members of the Board of Governors or for a period of two years, whichever is earlier.
2. (3) The functions and duties of the Finance Committee shall be as follows, namely:—
   • (i) to examine and scrutinize the annual budget of the University and to make recommendations on financial matters to the Board of Governors;
   • (ii) to consider all proposals for new expenditure and to make recommendations to the Board of Governors;
   • (iii) to consider the periodical statement of accounts and to review the accounts of the University from time to time and to consider re-appropriation statements and to submit to the Board of Governors; and
   • (iv) to give its views and recommendations to the Board of Governors on any financial question affecting the University either on its own initiative or on reference from the Board of Governors.
3. (4) The Finance Committee shall meet at least four times in a year. The quorum for the meeting of the Finance Committee shall be one third of the total members.
4. (5) The Vice-Chancellor shall preside over the meetings of the Finance Committee and in his absence, a member elected at the meeting shall preside over.