(1) Finance Committee shall cons'st of—
(a) the Financial Adviser to the Government of India or his [nominee in the Minis U-y of the Central Government dealing with Culture;
(b) an officer of the Central Government, not below the rank of a Deputy Secretary, to b3 nominated by that Government;
(c) an officer of the State Government not below the rarijf of a Deputy Secretary, to be nominated by that Government, rejpresenting the Department of Finance of that Government; and
(d) the Director.
(2) The Finance Committee shall observe such procedure in regard to the transaction of the business at its meetings as may be specified by regulations.
18. The Finance Committee shall—
(i) scrutinise the annual statement of accounts and budget estimates of the Foundation prepared by the Director and make recommendations to the Governing Board;
(ii) prescribe the limits of the recurring and non-recurring expenditure of the Foundation for each financial year;
Governing Board!
to be the supreme authority of ITeundation.
A<sa4emic Committee.
Powers and functions of Academic Committee.
Finance Committee.
Powers and functions of Finance Committee.
8 THE GAZETTE OF INDIA EXTRAORDINARY [PA*T 11— Appointment and duties of Director.
Transfer of service of existing employees.
(in) review the financial position of the Foundation from time to time and have an internal audit conducted; and
(iv) perform such other functions as may be prescribed*