”The functions and duties of the Finance Committee shall be,—
(1) to examine and scrutinize the annual budget of the Foundation and to make recommendations on financial matters to the Governing Council;
(2) to consider all proposals for new expenditure and to make recommendations to the Governing Council;
(3) to consider the periodical statements of accounts and to review the finances of the Foundation from time to time and consider re-appropriation statements and audit reports and make recommendations to the Governing Council;
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(4) to give its views and make recommendations to the Governing Council on any financial question affecting the Foundation either on its own initiative or on reference from the Governing Council or the Chairperson.
(5) The Finance Committee shall meet at least, thrice in a year. Three members of the Finance Committee shall form the quorum.
(6) The Chairperson shall preside over the meetings of the Finance Committee, and in his absence, a member nominated by the Chairperson among the members of the Finance committee shall preside.
In case of difference of opinion among the members, the opinion of the majority of the members present shall prevail.