Transitional provisions

Notwithstanding anything contained in this Act:— (i) the Vice-Chancellor may, with the prior approval of the President and subject to availability of funds, discharge all or any of the functions of the University for the purpose of carrying out the provisions of this Act and the Regulations and for that purpose may exercise any power or perform any duty which, by this Act and the Regulations, are to be exercised or performed by any authority of the University until such authority comes into existence as provided by this Act and the Regulations; (ii) the Academic Council, if any, functioning as such immediately before the commencement of this Act shall continue to so function until the Academic Council is constituted for the University under this Act, but on the constitution of the Academic Council under this Act, the members of the Academic Council holding office before such constitution shall cease to hold office; and (iii) the Finance Committee, if any, functioning as such immediately before the commencement of this Act shall continue to so function until the Finance Committee is constituted for the University under this Act, but on the constitution of the Finance Committee under this Act, the members of the Finance Committee holding office before such constitution shall cease to hold office.