Chapter VI MISCELLANEOUS

(1) Every employee shall be appointed under a written contract which shall be kept in the University and a copy of which shall be furnished to the employee concerned. (2) Disciplinary action against the students or employees shall be governed by the procedure as may be prescribed.

The University shall constitute for the benefit of its employees such Provident Fund or pension fund and provide such insurance scheme as it may deem fit in such manner and subject to such conditions as may be prescribed.

If any question arises as to whether any person has been duly elected or appointed as, or is entitled to be a member of any authority or other body of the University, the matter shall be referred to the Chairman whose decision thereon shall be final.

Any authority of the University referred to in section 18 may constitute a committee for its purpose, consisting of such members and having such powers as may be prescribed by it.

Any vacancy arising by reason of death, resignation or otherwise among the members of any of the authority of the University, other than the ex-officio members shall be filled up as soon as may be convenient by the same member and the member so appointed shall hold office for the unexpired portion of the term of the predecessor in office.

Notwithstanding anything contained in this Act and the Statutes,— (a) the first Vice-Chancellor shall be appointed by the Chairman and the said officer shall hold office for a term of three years; (b) the first Registrar and the first Controller of Finance shall be appointed by the Chairman and shall hold office for a term of three years; (c) the first Board of Governors shall hold office for a term not exceeding three years; and (d) the first Board of Management, the first Finance Committee and the first Academic Council shall be constituted by the Chairman for a term of three years.

(1) The Sponsoring Body shall establish an Endowment Fund of Rupees twenty-five Crores. (2) The amount of Endowment Fund shall be kept invested until the dissolution of the University in long term securities. (3) The University may transfer any amount from the General Fund or the Development Fund to the Endowment Fund. (4) Except during the dissolution of the University, no money can be transferred from the Endowment Fund under any other circumstances other than for the purposes of the University. (5) Out of the incomes received from the Endowment Fund, an amount not exceeding seventy-five percent shall be used for the purposes of development works of the University and the remaining twenty-five percent shall be reinvested in the Endowment Fund.

(1) The Annual Report of the University shall be prepared under the direction of the Board of Management and shall be submitted to the Board of Governors for its approval. (2) The Board of Governors shall consider the Annual Report in its meeting and may approve the same with or without modification. (3) A copy of the Annual Report duly approved by the Board of Governors shall be sent to the Chancellor and to the State Government on or before the 31st December following the closure of the financial year on the 31st March of each year. The annual report shall be laid in the House of Legislative Assembly.