(1)There shall be a University Accounts Committee consisting of -(i)the nominee of the Chancellor, from amongst the members of the Senate - Chairman;(ii)one person nominated by the State Government;(iii)three persons nominated by the Senate, from amongst its members; and(iv)two persons nominated by the Academic Council, from amongst its members.(2)The Finance Officer shall act as Secretary of the Committee.(3)The members of the Committee shall hold office for a period of three years.(4)The Committee shall scrutinise the annual accounts to satisfy itself that the moneys shown as having been disbursed were properly available for the purposes for which they were spent, and that the expenditure incurred was in accordance with the law at that time in force. The Committee shall submit its report to the Senate from time to time and suggest any action to be taken thereon regarding any lapses or irregularities which come to its notice; and, thereupon, the Senate shall take such action as it thinks necessary.(5)The other powers and duties of the Committee and the procedure at its meetings shall be such as prescribed by the Statutes.
