Page 97 - Compendium of UGC Regulations 1957-2023

Regulations on Establishment, Maintenance and Recognition of Institutions:

3.2 Terms of Office of the Finance Committee:
All members of the Finance Committee other than ex-officio members shall hold office
for a term of three years.

3.3 Powers and Functions of the Finance Committee:
(i) To consider the annual accounts and financial estimates of the institution deemed
to be university and submit them to the Board of the Management for approval;
(ii) To consider and recommend the annual budget and revised estimates to the Board
of Management;
(iii) To fix limits of the total recurring expenditure and the total non- recurring
expenditure of the year based on the income and resources of the institution
deemed to be university.

Note: No expenditure other than that provided in the budget shall be incurred by the institution
deemed to be university without the approval of the Finance Committee.

3.5 Meetings of the Finance Committee:
The Finance Committee shall meet at least twice a year to examine the accounts and to
scrutinize proposals for expenditure. Five members shall constitute the quorum for the
meeting.

4.0 Board of Studies:
4.1 There shall be one Board of Studies for each Department of the institution deemed to
be university.
4.2 The Board of Studies of each faculty/ Department shall consist of:
1. Dean of faculty/ Head of the Department - Chairperson

2. All Professors of the faculty/ Department
3. Two Associate Professors of the faculty/ Department by rotation of seniority
4. Two Assistant Professors of the faculty/Department by rotation of seniority

5. Not more than 2 persons to be co-opted for their expert knowledge including
those belonging to the profession or industry concerned
4.3 The powers and functions of the Board of Studies shall be prescribed by the Rules of
the Institution deemed to be University.
5.0 Selection Committee:
5.1 There shall be a Selection Committee for making recommendations to the Board of
Management for appointment to the post of Professors, Associate Professors, Assistant
Professors and such other posts as may be prescribed by the Rules, in the institution
deemed to be university.
5.2 Every Selection Committee shall be constituted in accordance with the Rules framed
by the Board of Management.

5.3 Meetings of the Selection Committee
(a) The meetings of the Selection Committees shall be convened by the Chairman of
the Selection Committee as and when necessary.
(b) Four members of the Selection Committee shall consisting of at least two experts
shall form the quorum.

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UGC Regulations