(1) The Finance Officer shall be a whole time officer of the University, appointed by the Government with the approval of the Syndicate from out of a panel of not less than three persons being officers in the cadre of Joint Controller of State Accounts Department or an officer of the Rank of Deputy Accountant General having experience in audit, accounting and financial administration, recommended by the Vice-Chancellor to the Syndicate. If none in the panel is approved by the Syndicate within the time prescribed by the Statutes, the Government may appoint such other person as he deems fit to be the Finance Officer.
(2) The tenure of appointment and the emoluments of the Finance Officer and other terms and conditions shall be as determined by the Government.
(3) The Finance Officer shall, subject to the control of the Finance Committee, exercise such powers and perform such functions as may be prescribed by the Statutes, the Ordinances and the Regulations or as may be required from time to time by the Vice-Chancellor or the Registrar. He shall be ex-officio Member of the Academic Council, and the ex-officio Member-Secretary of the Finance Committee.