(a) The first Vice-Chancellor and first Pro Vice-Chancellor (if any) shall be appointed by the chancellor and the said officer shall hold office for a term of three years;
(b) The first Registrar and the first Finance Officer shall be appointed by the Chancellor and said officers shall hold office for a term of three years;
(c) The first Board of Governors shall hold office for a term not exceeding three years;
(d) The first Board of Management, the first Finance Committee and first Academic Council shall be constituted by the Chancellor for a term of three years.
Permanent Endowment Fund
42. The University shall establish a permanent endowment fund of Rs.
5 crore ( Rupees Five crore) in the form of a Bank Guarantee of a Nationalized Bank pledged in the name of State Government of Uttarakhand for the period of 5 years which shall be further renewed for a term of five years.
General Fund 43. (1) The University shall establish a general fund to which the following amount shall be credited; namely:-
(a) All fee charged by the University;
(b) All sums received from any other source;
(c) All contributions made by the Founder Society;
(d) All contributions\donations made in this behalf by any other person or body, which are not prohibited by any law for the time being in force.
(2) The funds credited to the general fund shall be applied to meet all the recurring expenditures of the University.
Development Fund