Section 24. The Finance Committee

(1) There shall be a Finance Committee consisting of the following members namely :— (i) the 1[Vice-Chancellor] ; (ii) one member nominated by the General Council from amongst its members ; (iii) one member nominated by the Executive Council from amongst its members ; (iv) the Secretary in-charge, Department of Higher Education, Uttar Pradesh or his nominee not below the rank of Special Secretary ; (v) the Secretary in-charge of Judicial Department Government Uttar Pradesh or his nominee not below the rank of Special Secretary ; (vi) the Secretary in-charge, Finance Department, Uttar Pradesh or his nominee not below the rank of Special Secretary ; (vii) the Registrar ; (viii) The Finance Officer-Member Secretary. (2) The nominated members of the Finance Committee shall hold office for a period of three years. (3) The Finance Committee shall have the following powers, duties and functions namely :— (i) to examine and scrutinize the annual budget of the 2[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 statements of accounts and to review the finance of the 2[University] from time to time and to consider re-appropriation statements and audit reports to make recommendations to the Executive Council ; (iv) to give its views and to make recommendations to the Executive Council on any financial matter affecting the 2[University] either on its own initiative or on reference from the Executive Council or the 1[Vice-Chancellor]; (4) The Finance Committee shall meet at least once in six months three members of the Finance Committee shall form the quorum. (5) The 1[Vice-Chancellor] shall preside over the meetings of the Finance Committee, and in his absence, the members present shall elect a person from amongst themselves to preside over the meeting.