Section 24. The Finance Committee

(1) There shall be a Finance Committee consisting of the following members namely :—

(i) the ¹[Vice-Chancellor] ;

(ii) one member nominated by the General Council from amongst its members ;

(iii) one member nominated by the Executive Council from amongst its members ;

(iv) the Secretary in-charge, Department of Higher Education, Uttar Pradesh or his nominee not below the rank of Special Secretary ;

(v) the Secretary in-charge of Judicial Department Government Uttar Pradesh or his nominee not below the rank of Special Secretary ;

(vi) the Secretary in-charge, Finance Department, Uttar Pradesh or his nominee not below the rank of Special Secretary ;

(vii) the Registrar ;

(viii) The Finance Officer-Member Secretary.

(2) The nominated members of the Finance Committee shall hold office for a period of three years.

(3) The Finance Committee shall have the following powers, duties and functions namely :—

(i) to examine and scrutinize the annual budget of the ²[University] and to make recommendations on financial matters to the Executive Council ;

(ii) to consider all proposals for new expenditure and to make recommendations to the Executive Council ;

(iii) to consider the periodical statements of accounts and to review the finance of the ²[University] from time to time and to consider re-appropriation statements and audit reports to make recommendations to the Executive Council ;

(iv) to give its views and to make recommendations to the Executive Council on any financial matter affecting the ²[University] either on its own initiative or on reference from the Executive Council or the ¹[Vice-Chancellor];

(4) The Finance Committee shall meet at least once in six months three members of the Finance Committee shall form the quorum.

(5) The ¹[Vice-Chancellor] shall preside over the meetings of the Finance Committee, and in his absence, the members present shall elect a person from amongst themselves to preside over the meeting.