(i) to approve the budget estimates of the University presented by the Vice-Chancellor;
(ii) to create posts and appoint teachers and other employees of the University in the manner prescribed;
(iii) to acquire, hold or dispose off properties or accept gifts and donations, for and on behalf of the University;
(iv) to arrange for the investment and withdrawal of the moneys belonging to the University;
(v) to direct the form and use of the common seal of the University;
(vi) to determine and regulate the policies relating to all the affairs of the University in accordance with the provisions of this Act and the statutes, Ordinances and regulations made thereunder;
(vii) to appoint such committees, either standing or temporary as may be considered necessary for any specific or general purpose for fulfillment of the objects of the University and for ensuring the proper administration of the affairs or academic activities of the University;
(viii) to promote the academic autonomy of the Colleges;
(ix) to make statutes;
(x) to establish, equip and maintain the University libraries, laboratories, workshops, museums and the like;
(xi) to provide for research and advancement and dissemination of knowledge;
(xii) to provide for allowances and travelling allowances, to institute scholarships, bursaries, medals and prizes and to organize exhibitions;
(xiii) to control and manage all colleges and hostels in the University area in the manner prescribed by the statutes;
(xiv) the Executive Council shall exercise all the powers of the University not otherwise provided for and all powers requisite to give effect to the provision of this Act.
(2) Except as expressly provided by this Act, it shall be competent for the Council in the case of posts, in connection with the affairs of the University, to make regulations regarding the recruitment and the conditions of service of the persons appointed to such posts.
(3) The Council may associate with itself in such manner and for such purpose as may be determined by regulations, any person whose assistance or advice it may require in complying with any of the provisions of this Act.
13. The Academic Senate and Finance Committee - There shall be constituted at the headquarters of the University, to assist the University in the fulfillment of its objects and the administration of the affairs of the University, an Academic Senate and a Finance Committee, the composition, powers and functions of which shall be as specified in the Schedule and the statutes prescribed.
14. Constitution of Committees by authorities of the University - Every authority of the University shall have power to appoint committees which may, unless, otherwise provided in this Act, consist of such members of the authority and such other persons as it may think fit.
15. Removal from membership of an authority - The Council shall remove any person from membership of any authority on the ground that such person was convicted of an offence involving moral turpitude.
16. Disputes as to constitution of authority - Where any question arises whether a person has been duly nominated or appointed as, or is entitled to be, a member of an authority other than the Council or whether any act or proceeding of an authority including the Council is consistent with this Act and the statutes prescribed, it shall be referred to the Chancellor whose decision thereon shall be final.
17. Powers of Vice-Chancellor to appoint officers, constitute committees temporally - Notwithstanding anything in this Act, and until such time as an authority is duly constituted the Vice-Chancellor may, subject to the approval of the Chancellor, appoint any officer or constitute any committee temporarily to exercise and perform all or any of the powers and functions of such authority under this Act.
18. Acts or Proceedings of authorities not to be invalidated by reason only of certain defects - No Act or proceeding of the Council, Academic Senate, Finance Committee or other body constituted under this Act shall be deemed to be invalid by reason only of any defect in the constitution thereof or the existence of any vacancy among its members or of any invalidity in the nomination or appointment of any of its members.
CHAPTER-V UNIVERSITY FUNDS etc.
19. General and other funds - (1) The income from the fees and other charges realised by, any contribution and endowment received by and all grants made to the University shall form one general fund to be called the General Fund of the University and all moneys so realised and received shall be credited to it.
(2) The University may have such other funds and shall maintain such accounts in respect of every fund as may be prescribed.
(3) All moneys credited to the funds of the University shall be deposited in such banks or invested in such manner as the University may, with the previous approval of the Government, decide.
20. Borrowing of money -The University may accept money from the Government of India, the State Government, the University Grants Commission, and also borrow money from a Bank or a Corporation, for the purposes of the University:
Provided that where the University intends to borrow money from a Bank or a Corporation or both exceeding an amount of ten lakh rupees at a time or in the aggregate, it shall obtain the prior written approval of the Government therefor.
21. Certain restrictions in respect of financial matters - The University shall not divert earmarked funds for other purposes or revise scales of pay of its staff or implement any scheme which involves any matching contribution from the Government or which imposes a recurring liability on the Government, after the assistance from the sponsoring Authority ceases, without the prior written approval of the Government:
Provided that the Executive Council may authorise the creation and filling up of posts of teachers for a period not exceeding one year, but any such post shall not be continued or created afresh for any period beyond the said period of one year without the prior written approval of the Government.
22. Pension or Provident Fund - (1) The University shall constitute, for the benefit of its employees, in such manner and subject to such conditions as may be prescribed by the statutes, such pension, insurance, gratuity or provident fund as it may deem fit.
(2) Where such fund has been so constituted, the Government may declare that the provisions of the Provident Fund Act, 1925 shall apply to such fund as if it were a Government Provident Fund.
23. Annual accounts and audit - (1) The annual accounts of the University shall be submitted by the Council to the Government who shall cause an audit to be made by such person as the Government may appoint in this behalf.
(2) The accounts when audited shall be printed and copies thereof shall, together with the copies on the audit report, be submitted by the Council to the Government with its comments. The Government shall as soon, as may be after the receipt of the audit report, cause the audit report together with the comments of the Council to be laid before each House of the State Legislature.
CHAPTER - VI STATUTES, ORDINANCES AND REGULATIONS.