Finance Committee

(1) The function and duties of the Finance Committee shall be as follows: (a) to examine and scrutinize the annual budget of the University and to make recommendations on financial matters to the Board of Management; (b) to consider all proposals for new expenditure and to make recommendations to the Board of Management; (c) to examine the annual accounts of the University and advise the Board of Management thereon; (d) to examine the annual budget estimate and advise the Board of Management thereon; (e) to review the financial position of the University from time to time; (f) to make recommendations to the Board of Management on all proposals involving the raising of funds, receipts and expenditure; (2) The Finance Committee shall meet at least twice every year. Three members of the Finance Committee shall form the Quorum. (3) The Chancellor and in his absence the Pro-Chancellor, shall preside over the meeting of the Finance Committee. (4) ln the case of difference of opinion among the members, the opinion of the majority of the members present shall prevail.