(1)The Vice-Chancellor shall be appointed in accordance with the provisions of this subsection. For the selection of the Vice-Chancellor, there shall be a Committee of three persons, two of whom shall be persons not connected with the University or any college or institution maintained, affiliated or recognised by the University, one to be nominated by the Executive Council and the other by the Academic Council, and the third person shall be nominated by the Chancellor, who shall also appoint one of the three as Chairman of such Committee. The Committee shall select not less than three persons and shall report its selection to the Chancellor. The Chancellor may appoint one of the persons so selected to be Vice-Chancellor. If the Chancellor does not approve any of the persons so selected, he may call for a fresh selection.