Surcharges

(1) An officer specified in any of the clauses (b), (c), (d), (e) and (f) of section 9 shall be liable to surcharges for the loss, waste or misapplication of any money or property of the University, if such loss, waste or misapplication is a direct consequence of his neglect or misconduct. (2) The procedure of surcharges and the manner of recovery of the amount involved in such loss, waste or misapplication shall be such as maybe prescribed by the Statutes.