(1) There shall be constituted a Standing Finance Committee, which shall include the member not below the rank of Joint Secretary representing the Ministry of Finance.
(2) The Institute may also constitute an Academic Committee, an Estate Committee, a Standing Selection Committee, Hospital Management Committee, Planning and Monitoring Committee, Grievance Redressal Committee, Rehabilitation Committee or any other standing or ad hoc Committees in accordance with sub-section (5) of section 11 of the Act.
(3) The following matters shall be referred to the Standing Finance Committee, which shall consider them and make its recommendations thereon, namely:-
(a) annual accounts showing the receipts and expenditure of the Institute together with the audit report thereon;
(b) budget estimates showing the estimated receipts and expenditure of the Institute;
(c) all proposals for the creation of new post(s);
(d) all financial matters pertaining to the Institute other than acceptance of tenders; and
(e) all matters relating to the invitation and acceptance of tenders above rupees five crore.
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