(1) Subject to the provisions of this Act and the Statutes, the Board shall be the Chief Executive Body of the University and shall manage and supervise the properties and activities of the University and shall be responsible for the conduct of all administrative affairs of the University not otherwise provided for in this Act.
(2) Without prejudice to the generality of the foregoing powers the Board shall exercise and perform the following powers and functions, namely :—
[(a) to consider and approve the financial estimates and the budget of the University ;]
(b) to hold and control the property and the funds of the University and issue any general directive on behalf of the University ;
(c) to accept or transfer any property on behalf of the University ;
(d) to administer funds placed at the disposal of the University for the purpose intended ;
(e) to arrange for the investment and withdrawal of the funds of the University ;
[(f) to borrow money for capital investment with prior approval of the [State Government] and make suitable arrangements for its repayment ;
(g) to accept on behalf of the University trusts, bequests and donations ;
(h) to consider and approve the recommendations of the Academic, Research and Extension Education Councils where required ;
(i) to direct the form and use of the common seal of the University;
(j) to appoint such committees and bodies as it may deem necessary and set down the terms of reference thereof in accordance with the provisions of this Act and the Statutes ;
(k) to recommend to the University Council establishment of a new Department, Division or Research Station/sub-division or abolition of anyone thereof or otherwise re-constitution of Department/ Divisions or Research Stations on the recommendation of the Academic Council ;
(l) to recommend to the University Council establishment of a new faculty, amalgamation of two or more faculties into a single faculty or abolition of a faculty or reconstitution of any of the existing faculties on the recommendation of the Academic Council ;
(m) to confer and distribute the degrees, diplomas and such other educational certificates as may be prescribed by the Statute ;
[(n) to approve the recommendations for appointment of officers of the University and teachers, employees of the rank of Associate Professors and above in the prescribed manner.]