(1) Subject to the provisions of this Act and the Statutes, the Board shall be the Chief Executive body of the University and shall manage and supervise the properties and activities of the University and shall be responsible for the conduct of all administrative affairs of the University not otherwise provided for in this Act.
(2) Without prejudice to the generality of the foregoing powers, the Board shall exercise the following powers and perform the following functions, namely:-
(i) to consider and approve the financial requirements, estimates and the budget of the University;
(ii) to hold and control the property and the funds of the University and issue any general directive on behalf of the University ;
(iii) to accept or transfer any property on behalf of the University;
(iv) to administer funds placed at the disposal of the University for the purpose intended;
(v) to arrange for the investment and withdrawal of the funds of the University ;
(vi) to borrow money for capital investments with prior approval of the State Government and make suitable arrangements for its repayment;
(vii) to accept on behalf of the University trusts, bequests and donations;
(viii) to consider and approve the recommendations of the Academic Council wherever required;
(ix) to direct the form and use of the common seal of the University;
(x) to appoint such committees and bodies as it may deem necessary and set down the terms of reference thereof in accordance with the provisions of this Act and the Statutes;
(xi) to grant affiliation to colleges or institutes on the recommendation of the Academic Council or withdraw such affiliation;
(xii) to consider and approve establishment of a new college or Faculty, amalgamation of two or more constituent colleges or Faculties into a single constituent college or Faculty or abolition of a college or Faculty or reconstitution of any of the existing Faculties on the recommendation of the Academic Council; and
(xiii) to approve the recommendations of the selection committee for appointment, in the prescribed manner, of officers, teachers, employees of the rank of Assistant Registrar and above in the University.