Section 15 in Tamil Nadu National Law School Act, 2012
15. Finance Officer.
(1)The Finance Officer shall be a whole time salaried officer of the School appointed by the Executive Council for such period as may be specified by the Executive Council in this behalf.(2)Appointment of the Finance Officer shall be made by the Executive Council from out of a panel of three names recommended by the Government.(3)The emoluments and other terms and conditions of service for the Finance Officer shall be such as may be prescribed by regulations.(4)The Finance Officer shall retire on attaining the age of fifty eight years or on the expiry of the period specified by the Executive Council under sub-section (1), whichever is earlier:Provided that the Finance Officer shall, notwithstanding his attaining the age of fifty-eight years, continue in office until his successor is appointed and enters upon his office or until the expiry of a period of one year, whichever is earlier.(5)When the office of the Finance Officer is vacant or when the Finance Officer is, by reason of illness, absence or for any other cause, unable to perform the duties of his office, the duties of the Finance Officer shall be performed by such person as the Vice-Chancellor may appoint for the purpose.(6)The Finance Officer shall be the ex-officio Secretary to the Finance Committee, but shall not be deemed to be a member of such Committee.(7)The Finance Officer shall, -(a)exercise general supervision over the funds of the School and shall advise the School as regards its financial policy; and(b)exercise such other powers and perform such other financial functions as may be assigned to him by the Executive Council or the Finance Committee or as may be prescribed by the regulations:Provided that the Finance Officer shall not incur any expenditure or make any investment exceeding such amount as may be prescribed without the previous approval of the Executive Council.(8)Subject to the control of the Executive Council, the Finance Officer shall, -(a)hold and manage the property and investments of the School including trust and endowment property;(b)ensure that the limit fixed by the Executive Committee for recurring and non-recurring expenditure for a year are not exceeded and that all moneys are expended on the purposes for which they are granted or allotted;(c)be responsible for the preparation of annual accounts, financial estimate, and the budget of the School and for their presentation to the General Council;(d)keep a constant watch on the cash and bank balance and of investments;(e)watch the progress of the collection of revenue and advise on the methods of collection employed;(f)ensure that the registers of buildings, lands, furniture and equipments are maintained upto date and that stock checking is conducted of equipments and other consumable materials in all offices and special centres maintained by the School;(g)bring to the notice of the Vice-Chancellor any unauthorized expenditure or other financial irregularity and suggest appropriate action to be taken against persons at fault; and(h)call from any office or centre maintained by the School, any information or returns that he may consider necessary for the performance of his duties.(9)The receipt of the Finance Officer or the person or persons duly authorized in this behalf by the Executive Council for any money payable to the School shall be a sufficient discharge for payment of such money.
