Section 14: Powers and functions of the Board

14. Powers and functions of the Board. —(I) The Board shall exercise the powers and perform the following functions, namely:— (a) to hold, control and administer the property, funds, assets and resources of the Institute; (b) to transfer and accept transfer of movable or immovable property on behalf of the Institute; (c) to consider and approve, on he advice of the Finance and Planning Committee, the annual and revised budget estimates and to lay down guidelines or rules of business dealing with financial matters; (d) to approve, carry out, vary or cancel contracts on behalf of the Institute; (e) to initiate and approve schemes for achievement of the objectives of the Institute; (f) to determine the form, and regulate the custody and use of common seal of the Institute; (g) to create professional, research, administrative posts and such other posts as may be required to carry out for the purposes of the Institute, and to suspend or abolish such posts; (h) to appoint teachers, researchers and officers on the recommendations of the Selection Board; (i) to suspend, punish and remove from service employees of the Institute in the manner as may be prescribed after due enquiry and defence; (j) to approve rules on the recommendations of the appropriate bodies (k) to determine, regulate and administer all other matters concerning the Institute; an (l) to arrange convocation.

Effective date: 2000-01-01

Related sections