1. (1). The Finance Committee shall consist of the following members, namely : (a). The Vice-Chancellor; (b). The Secretary to Government in-charge of Finance. (c). The Secretary to Government in-charge of education. (c.A). The Secretary to Government in-charge of Tamil Development- Culture. (d). Three members nominated by the Syndicate from among its members of whom one shall be a Professor, one shall be a person nominated to the Syndicate by the Chancellor and one shall be a person nominated by the Pro-Chancellor. (2). If for any reason the officer referred to in sub-clause (b) or sub-clause (c) of clause(1) is unable to attend any meeting of the finance committee, he may depute any officer of his department not lower in rank than that of a Deputy Secretary to Government to attend such meeting. The officer so deputed shall have the right to take part in the discussion of the committee and shall have the right to vote. 2. The Vice-Chancellor shall be the ex-officio chairman and the Finance Officer shall be the ex-officio secretary of the Finance Committee. 3. All members of the Finance Committee, other than ex-officio members shall hold office for a period of three years. 4. (1). The Finance Committee shall meet atleast twice in every year to examine the accounts and to scrutinise proposals for expenditure. (2). The annual accounts of the University prepared by the Finance Officer shall be laid before the Finance Committee for consideration and comments and thereafter submitted to the Syndicate with the modifications made by the Finance Committee for approval. (3). The Finance Committee shall recommend limits for the total recurring expenditure and the total non-recurring expenditure for the year based on the income and resources of the University, which in the case of productive works may include the proceeds of loans. (4). The Finance Committee shall : (a). Review the financial position of the University from time to time. (b). Make recommendation to the Syndicate on every proposal involving investment or expenditure for which no provision has been made in the annual financial estimates or which involves expenditure in excess of the amount provided for in the annual financial estimates. (c). Prescribe the methods and procedure and forms for maintaining the accounts of the University. (d). Make recommendations to the Syndicate on all matters relating to the finances of the University. (e). Perform such other functions as may be prescribed. 5. The financial estimates of the University shall be placed before the Finance Committee for its consideration and comments on or before the 15th of February and with the modifications made by the Finance Committee laid before the Syndicate for its consideration and acceptance on or before the 15th March every year. The Syndicate may accept the modifications made by the Finance Committee. 6. The procedure for conducting the meeting shall be as prescribed for Syndicate wherever they are applicable. Quorum shall be as prescribed for the Syndicate. 7. The Finance Committee shall have powers : (1). To consider and recommend to the Syndicate on behalf of the University loans from the Central or any State Government or the public or any corporation owned or controlled by the Centre or by any State Government; (2). To consider and recommend to the Syndicate the terms and conditions for the borrowal of money with the approval of the Government if it involves pledging of immovable properties; (3). To consider and recommend to the Syndicate the holding and controlling of the administration of the properties and funds of the University; (4). To consider and recommend to the Syndicate the mode of administration of all properties and all funds placed at the disposal of the University for specific purposes; (5). To advise the Syndicate to determine as to how the provident fund amount of the University may be invested; (6). To consider the draft replies prepared by the Finance Officer to the objections raised by the Audit and recommend to the Syndicate for its consideration and publication before admitting to the Senate and to the Chancellor and to the Government; and (7). To perform such other functions and exercise such other powers assigned to it by the Syndicate from time to time concerning financial matters.