Finance Committee

(1) There shall be constituted a Finance Committee which shall be a sub-Committee of the Executive Council with the following as members, namely:-

(a) Vice-chancellor (Chairman);

(b) two members of the Executive Council nominated by it;

(c) one member of the Executive Council to represent Banking or Accounting;

The Finance Officer shall be the Secretary of the Finance Committee.

(2) The Finance Committee shall have the following duties and powers, namely:-

(a) to examine the annual accounts of the University and to advise the Executive Council thereon;

(b) to examine the annual budget estimates and advice the Executive Council thereon;

(c) to review the financial position of the University from time to time;

(d) to make recommendations to the Executive Council on all matters relating to the finances of the University;

(e) to make recommendation to the Executive Council on all proposals involving expenditure for which no provision has been made in the budget, or which involve expenditure in excess of the amount provided in the Budget.