(1) Subject to the provisions of this Act, and the rules made thereunder, the First Statutes may provide for all or any of the following matters, namely:
(a) the constitution, powers and functions of the authorities and other bodies of the University as maybe constituted from time to time;
(b) the terms and conditions of appointment of the Chancellor, the Vice Chancellor and their powers and functions;
(c) the manner and terms and conditions of appointment of the Registrar and Chief Finance and Accounts Officer, their powers and functions;
(d) the manner and terms and conditions of appointment of other officers and teachers and their powers and functions;
(e) the terms and conditions of service of employees of the University;
(f) the procedure for arbitration in cases of disputes between employees or students and the University;
(g) the conferment of honorary degrees;
(h) the provisions regarding exemption from payment of tuition fee and awarding scholarships and fellowships to the students;
(i) framing of policy for admission, including regulation of reservation of seats; and
(j) fees to be charged from students.
(2) The First Statutes of the University shall be made by the Governing Body and shall be submitted to the State Government for its approval.
(3) The State Government shall consider the First Statutes, submitted by the University and shall approve it within sixty days from the date of its receipt, with or without modifications as it may deem necessary.
(4) The University shall communicate its agreement to the First Statutes as approved by the State Government, and if it desires not to give effect to any or all the modifications made by the State Government under sub-section (3), it may give reasons therefore and after considering such reason, the State Government may or may not accept the suggestions made by the University.
(5) The State Government shall publish the First Statutes, as finally approved by it, in the Official Gazette, and thereafter it shall come into force from the date of such publication.