Section 6. Finance Officer

6. Finance Officer.— (1) The Finance Officer shall be appointed by the Executive Council on the recommendations of a Selection Committee constituted for the purpose and he shall be a whole-time salaried officer of the University. (2) The Finance Officer shall be appointed for a term of five years and shall be eligible for reappointment after following such procedure as may be laid down for such appointment. (3) The emoluments and other terms and conditions of service of the Finance Officer shall be such as may be prescribed by the Central Government from time to time: Provided that, the Finance Officer shall retire on attaining the age of sixty-two years. (4) When the office of the Finance Officer is vacant or when the Finance Officer is, by reason of illness, absence or any other cause, unable to perform the duties of his office, the duties of the office shall be performed by such person as the Vice-Chancellor may appoint for the purpose. (5) The Finance Officer shall be ex officio Member—Secretary of the Finance Committee. (6) The Finance Officer shall— (a) exercise general supervision over the funds of the University and shall advise it as regards its financial policy; and (b) perform such other financial functions as may be assigned to him by the Executive Council or as may be prescribed by the Statutes or the Ordinances. (7) Subject to the control of the Executive Council, the Finance Officer shall— (a) hold and manage the property and investments of the University including trust and endowed property; (b) ensure that the limits fixed by the Executive Council for recurring and non-recurring expenditure for a year are not exceeded and that all moneys are expended on the purpose for which they are granted or allotted; (c) be responsible for the preparation of annual accounts and the budget of the University and for their presentation to the Executive Council; (d) keep a constant watch on the state of the cash and bank balances and on the state of investments; (e) watch the progress of the collection of revenues and advise on the methods of collection employed; (f) ensure that the registers of buildings, land, furniture and equipment are maintained up-todate and that stock-checking is conducted, of equipment and other consumable materials in all offices, Departments, Centres and Specialised Laboratories; (g) bring to the notice of the Vice-Chancellor un-authorised expenditure and other financial irregularities and suggest disciplinary action against persons at fault; and (h) call for, from any office, Department, Centre, Laboratory, College, School of Studies or Institution maintained by the University, any information or returns that he may consider necessary for the performance of his duties. (8) Any receipt given by the Finance Officer or the person or persons duly authorised in this behalf by the Executive Council for any money payable to the University shall be sufficient discharge for payment of such money. (xxi) to supervise or cause to supervise the residences of the staff, faculty and students of the University and to make arrangements for promoting their health and general welfare; (xxii) to lay down conditions of service of all categories of employees, including their code of conduct; (xxiii) to regulate and enforce discipline among the students and employees of the University, and to take such disciplinary measures in this regard as may be deemed by the University to be necessary; (xxiv) to make special arrangements in respect of women, children and persons, with disabilities as the University may consider desirable; (xxv) to accept benefactions, donations, gifts in cash or kind for furtherance of the objects of the University, and to acquire, hold and manage and to dispose of with the previous approval of the Central Government, any property, movable or immovable, including trust and endowment properties for the purposes of the University; (xxvi) to borrow, with the prior approval of the Central Government, on the security of the property of the University, money for the purpose of the University; (xxvii) to establish new Campuses in India and also off-shore campus or Centre of the University with the prior permission of the Central Government as per the procedure established thereof; (xxviii) to do all such other acts and things as may be necessary, incidental or conducive to the attainment of all or any of the objects of the University. (2) In exercising its powers referred to in sub-section (1), it shall be the endeavour of the University to maintain an all-India character and high standards of teaching and research, and the University shall, among other measures which may be necessary for the said purpose, take, in particular, the following measures, namely:-- (i) admission of students and recruitment of faculty shall be made on all-India basis; (ii) admissions of students shall be made on merit, either through Common Entrance Tests conducted individually by the University or in combination with other Universities, or on the basis of marks obtained in the qualifying examination in such courses where the intake of students is small; (iii) inter-University mobility of faculty, with portable pensions and protection of seniority, shall be encouraged; (iv) semester system, continuous evaluation, choice-based credit system or any other ancient, traditional or modern appropriate system as may be deemed to be fit and proper shall be introduced and the University shall enter into agreements with other Universities and academic institutions for credit transfer and joint degree programmes; (v) ancient traditional teaching system including Gurukulas and Vedashalas shall be adopted in such areas and conditions as may be determined by the Executive Council.