Statutes

(1) The Statutes of the University specified in the Schedule shall contain provisions regarding constitution and functions of various bodies of the University, appointments and terms of appointment, conditions of service and powers of various university officials and constitution of the Fund of the University and its deployment.

(2) The Statutes as contained in the Schedule, as amended from time to time, shall be binding on all authorities, officers, teachers and employees of the University and persons connected with the University.

(3) The Executive Council shall have powers to make any amendment in the statutes contained in the Schedule:

Provided that the Executive Council shall not amend any provision of the Statutes affecting the constitution, status or power of any authority of the University without affording to such authority a reasonable opportunity of making a representation on the proposed changes.

(4) Any amendment to the Statutes, whether by adding, deleting or in any other manner, shall not take effect unless the Chancellor has, after consultation with the State Government, assented to it:

Provided that the Chancellor may, after the said consultation and on being satisfied that assent be not given, withhold assent or return the proposal for amendment to the Executive council for reconsideration in the light of observation, if any, made by him.

(5) Notwithstanding anything contained in sub-section (3) or sub-section (4), the Chancellor shall have power to amend, after consultation with the State Government, whether by adding, deleting, or in any other manner, the Statutes contained in the Schedule.

(6) An amendment to the Statutes shall come into force on the date of its publication in the Official Gazette. (1) There shall be a Finance Committee constituted by the Executive Council consisting of the following members, namely:- (a) the Vice-Chancellor; (b) one member nominated by the Executive Council from amongst its members; (c) Finance Officer of the University; (d) one senior teacher preferably a specialist of the finance and account matters nominated by the Vice-Chancellor; (e) three financial experts, not having any relation with the University nominated by the Chancellor; and (f) the Registrar, who shall be the Member-secretary of the Finance Committee. (2) The members of the Finance Committee shall hold office for a term of three years. (3) The functions and duties of the Finance Committee shall be, - (a) to examine and scrutinize the annual budget of the University and to make recommendations on financial matters to the Executive Council; (b) to consider the periodical statements of accounts and to review the finances of the University, from time to time, and to consider re-appropriation statements and audit reports and to make recommendations to the Executive Council; (c) to consider all proposals for new expenditure and make recommendation to the Executive Council; and (d) to give its views and to make recommendations to the Executive Council on any financial question affecting, the University either on its own initiative or on reference from the Executive Councilor or the Vice-Chancellor. (4) The Finance Committee shall meet twice every year and five members of the Finance Committee shall form the quorum. (5) The Vice-Chancellor shall preside over the meetings of the Finance Committee. (6) In case of difference of opinion among the members, the opinion of the majority of the members shall prevail.