The Academic Council may consider and recommend to the Board of Management the conferment of an honorary degree or other academic distinction on any person, without requiring him to undergo any test or examination or evaluation, on the ground solely that he, by reason of his eminent position or attainments in any field, is a fit and proper person to receive such degree or other academic distinction, and such recommendation shall be deemed to have been duly passed if supported by a majority of not less than two-thirds of the members present at the meeting of the Board of Management, being not less than one-half of its total membership:
Provided that, such degree or other academic distinction shall not be conferred without the Vice-Chancellor having obtained the previous approval of the Chancellor:
Provided further that, no such honorary degree or academic distinction shall be awarded within the first five years of the formation of the university.