Section 15. Finance Committee

(1) There shall be a Finance Committee constituted by the Executive Council consisting of the following, namely,- (i) the Vice-Chancellor of Law University; (ii) the Registrar of Law University; (iii) the Finance and Accounts Officer of Law University; and (iv) two members one of whom to be nominated by the General Council and the other by the Government of Meghalaya. (2) The members of the Finance Committee other than the ViceChancellor of Law University, Registrar of Law University and Finance and Accounts Officer of the Law University shall hold office so long as they continue as members of the Finance Committee. (3) The functions and duties of the Finance Committee shall be as follows: - (i) to examine and scrutinize the annual budget of the Law University and to make recommendations on financial matters to the Executive Council; (ii) to consider all proposals for new expenditure and to make recommendations to the Executive Council; (iii) to consider the periodical statement of accounts and to review the finances of the Law University from time to time and to consider re-appropriation statements and audit reports and to make recommendations to the Executive Council; and (iv) to give its views and to make recommendations to the Executive Council on any financial question affecting the Law University either on its own initiative or on reference from the Executive Council or the Vice Chancellor of Law University. (4) The Finance Committee shall meet at least thrice in every year. Three members of the Finance Committee shall form the quorum. (5) The Vice-Chancellor of Law University shall preside over the meetings of the Finance Committee, and in his absence, the Registrar of Law University shall preside. In case of difference of opinion among the members, the opinion of the majority of the members present shall prevail.