(i) The Executive Council;
(ii) The Academic Council;
(iii) The Finance Committee; and
(iv) Such other bodies as the statutes may declare to be authorities of the University.
15. The Executive Council and its Powers and Functions - (1) The Executive Council shall be the principal executive body of the University.
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(2) The Constitution of the Executive Council and its powers and functions shall be prescribed by the Statutes.
16. The Academic Council and its Powers and Functions - (1) The Academic Council shall be the principal academic body of the University and shall, subject to the provisions of this Act, Statutes and Ordinances, coordinate and exercise general supervision over the academic policies of the University.
(2) The Constitution of the Academic Council and its powers and functions shall be prescribed by the Statutes.
17. Finance Committee - The Constitution, powers and functions of the Finance Committee shall be prescribed by the Statutes.
18. Constitution of Faculties and Centers - (1) The University shall include initially six faculties namely Vedadhyayana, Agama, Srouta and Smarta, Veda Bhashya, Vedic Studies and Vedanga and related sastras. The University may also have additional faculties for ancillary subjects.
(2) The constitution and functions of the Faculties and centers, shall in all other respects be such as may be prescribed.
(3) Such Faculties shall comprise such departments of research and teaching as are specified in the first statutes.
19. The Boards of Studies - There shall be Boards of Studies attached to each department of teaching and research. The Constitution and powers of the Boards of Studies to be constituted by the Vice Chancellor from time to time, shall be such as may be prescribed by the Statutes.
20. The term of Office of the Members of the Executive Council and Academic Council- The term of Office of the Members of the Executive Council, and Academic Council shall be such as may be prescribed by the Statutes.
CHAPTER - V UNIVERSITY FUNDS ETC.