Section 14. Power and functions of the Executive Committee.

The Executive Committee shall have the following powers and duties, namely, - (i) It shall be competent to take decisions on behalf of the Council, subject to the concurrence of the council in all matters with policy implications: Provided that in urgent circumstances the Executive Committee may take a decision subject to ratification by the Council; (ii) It shall incur such expenses as are necessary to fulfill the objectives set out in this notification and carry out all decisions taken by the Council; (iii) It shall present before the council the annual academic and financial audit reports of the Council for its approval; and (iv) It shall have such other powers, functions and duties as may be prescribed.