(1) The Finance Committee shall consist of following members, namely:—
(i) the Vice-Chancellor;
(ii) the Pro-Vice-Chancellor;
(iii) the Registrar;
(iv) the Finance Officer;
(v) two members elected by Governing Council members from among themselves; and
(vi) one member from the Planning Committee nominated by the Vice-Chancellor.
(2) The Finance Committee shall give advice to the University authorities on any matter relating to the finances of the University. The powers of the Finance Committee shall be as follows:—
(i) to prepare the budget estimate of the University and to review the accounts of expenditure and to make recommendations to the Governing Council;
(ii) to consider and make recommendations to the Governing Council on the proposals for new expenditure on major works and purchases;
(iii) to scrutinise re-appropriation statements and audit notes and make recommendations to the Governing Council;
(iv) to review the finance of the University and to suggest concurrent audit conducted wherever necessary;
(v) to give advice and make recommendations to the Governing Council on any other financial question affecting the affairs of the University.
(3) The term of the Finance Committee shall be three years or as may be prescribed by the Statutes.