LexThe INSTITUTE OF CHARTERED FINANCIAL ANALYSTS OF INDIA UNIVERSITY, ORISSA ACT, 2009
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No. 1403, CUTTACK, SATURDAY, SEPTEMBER 4, 2010 / BHADRA 13, 1932
LAW DEPARTMENT
NOTIFICATION
The 3rd September, 2010
No. 9798/ I-11/09 /Legis íThe following Act of the Orissa Legislative Assembly
having been assented to by the Governor on the 25th August, 2010 is hereby published
for general information.
ORISSA ACT 5 OF 2010
THE INSTITUTE OF CHARTERED FINANCIAL ANALYSTS OF
INDIA UNIVERSITY, ORISSA ACT, 2009
AN ACT TO ESTABLISH AND INCORPORATE A SELF-FINANCED
PRIVATE UNIVERSITY IN THE STATE FOR PROVIDING
HIGH QUALITY EDUCATION AND TO REGULATE ITS
FUNCTION AND FOR MATTERS CONNECTED
THEREWITH OR INCIDENTAL THERETO.
BE it enacted by the Legislature of the State of Orissa in the
Sixty-first Year of the Republic of India as follows :—
CHAPTER - I
PRELIMINARY
1. (1) This Act may be called the Institute of Chartered Financial
Analysts of India University, Orissa Act, 2010.
(2) It shall come into force on such date as the State Government
may, by notification in the Official Gazette, appoint.
Short title and
commencement.
(3) This section and sections 2, 3, 4, 5 and 43 shall come into
force on the commencement of the Act and the remaining provisions shall
come into force on such date as the State Government shall, upon the
establishment of the University, by notification in the Official Gazette, appoint
and different dates may be prescribed for different provisions of this Act.
2. In this Act, unless the context otherwise requires, —
(a) “Academic Council” means the Academic Council of the
University;
(b) “AICTE” means the All India Council for Technical
Education established under section 3 of the All India
Council for Technical Education Act, 1987;
(c) “Annual Report” means the Annual Report of the
University as explained in section 47;
(d) “Board of Governors” means the Board of Governors of
the University as explained in section 21;
(e) “Board of Management” means the Board of
Management of the University as explained in section 22;
(f) “Chancellor” means Chancellor of the University as
explained in section 14;
(g) “Development Fund” means the Development Fund of
the University as explained in section 45;
(h) “Distance Education System” means the system of
imparting education through any means of information
technology and communication such as multimedia,
broadcasting, telecasting, online over internet, other
interactive methods, e-mail, internet, computer,
interactive talk back, e-learning, correspondence course,
seminar, contact program or a combination of any two or
more of such means;
(i) “Employee” means employee appointed by the University
and includes teachers and other staff of the University;
(j) “Endowment Fund” means Endowment Fund of the
University as explained in section 43;
Definitions.
52 of 1987.
(k) “Faculty” means faculty of the University;
(l) “Finance Officer” means Finance Officer of the University
as explained in section 18;
(m) “General Fund” means General Fund of the University as
explained in section 44;
(n) “Off-campus Centre” means a center of the University,
established by it outside the main campus, within the
State operated and maintained with the prior approval of
the U.G.C. and that of State Government as its
constituent unit, having the University’s compliment of
facilities, faculty and staff.
(o) “prescribed” means prescribed by the Statutes;
(p) “Professional Certification and Designation Program”
means a program which is administered by the University
under clause(b) of section 9 and which is based on
curriculum, study and examinations and leads to the
award of a certificate, or charter or credential and a
designation indicative of the professional practice
area/areas;
(q) “Professional Council” means the council established
under clause (e) of section 8, for advancement of
professional practice, research, continuing education,
networking, advocacy and ethics;
(r) “Registrar” means Registrar of the University as
explained in section 17;
(s) “Regulatory Body” means a body established by the
Central Government for laying down norms and
conditions for ensuring standard of higher education such
as University Grants Commission, All India Council of
Technical Education and National Council of Assessment
and Accreditation and other bodies established for the
purpose;
(t) “Rules” means the Rules of the University;
(u) “Sponsor” means the Institute of Chartered Financial
Analysts of India, which is registered as a Society under
the Andhra Pradesh (Telangana Areas) Public Societies
Registration Act, 1350 Fasli ( Act I of 1350 F) at
Hyderabad, Andhra Pradesh (Registration No. 1602
dated 20th October, 1984);
(v) “State” means the State of Orissa;
(w) “State Government” means the State Government of
Orissa;
(x) “Statutes” means the Statutes of the University;
(y) “Study Centre” means a center established, maintained
or recognized by the University in the State for the
purpose of advising, counseling or for rendering any
other assistance required by the students used in the
context of distance education;
(z) “Teacher” means a Professor, Associate Professor,
Assistant Professor or Lecturer or such other person as
may be appointed for imparting instruction or conducting
research in the University;
(za) “The Society of Certified Public Accountants” means
the Society which is registered under the Andhra
Pradesh (Telangana Area) Public Societies
Registration Act, 1350 Fasli (Act I of 1350 F) at
Hyderabad, Andhra Pradesh (Registration No. 5575
dated August 17, 2001);
(zb) “UGC” means the University Grants Commission
established under the University Grants Commission
Act, 1956;
(zc) “University” means the Institute of Chartered Financial
Analysts of India University, Orissa, established under
this Act;
(zd) “Vice-Chancellor” means Vice-Chancellor of the
University as explained in section 15;
(ze) “Visitor” means the Visitor of the University as
explained in section 13.
3 of 1956.
CHAPTER -II
THE UNIVERSITY AND ITS OBJECTS
3. The Sponsor shall have the right to establish the University in
accordance with the provisions of this Act.
4. (1) The Sponsor shall establish an endowment fund in accordance to
the provisions of section 43.
(2) The Sponsor shall —
(i) procure minimum Twenty-five acres of land, in case the
campus is proposed to be established within a
Municipal Corporation or Fifty acres of land, in case the
campus is proposed to be established at any other
place and submit its ownership papers to the State
Government;
(ii) make available a minimum built up area of 10,000
square meters in the form of buildings, and ancillary
structure for administrative purposes and for conducting
the academic programmes;
(iii) purchase books and journals at least worth Rupees Ten
lakhs or as per the norms of the Regulatory Bodies,
whichever is higher in the first year and to invest not
less than Rupees fifty lakhs or as per norms of the
Regulatory Bodies, whichever is higher on books,
journals, computer networking and other facilities to
make the library facilities adequate for contemporary
teaching and research within first three years;
(iv) purchase equipments, computers, furniture, other
movable and immovable assets and infrastructure
facilities other than buildings, referred to in clause (ii)
above worth rupees twenty lakhs or as per the norms of
Regulatory Bodies, whichever is higher, and give
undertaking to procure within the first five years,
equipments, computers, furniture, other movable and
immovable assets and infrastructure facilities other than
buildings, referred to in clause (ii) above worth not less
Right to
establish the
University.
Establishment of
University.
than rupees one crore or as per norms of the
Regulatory Bodies, whichever is higher;
(v) give an undertaking —
( a ) to appoint at least one Professor, two Readers and
adequate number of Lecturers on full time basis
along with necessary supporting staff in each
department or discipline of the University prior to the
date such department or discipline is started;
( b ) to take up co-curricular activities to foster a proper
academic and healthy environment, such as
seminars, debates, quiz programmes and extra
curricular activities like games, sports, National
Service Scheme, National Cadet Corps etc. for the
benefit of students as per the norms laid down by
the Regulatory Bodies;
( c ) to establish welfare programmes for the employees
of the University;
( d ) to fulfil such other conditions and provide such other
informations as may be prescribed by the
Regulatory Bodies from time to time;
( e ) that the programmes of study leading to a degree or
a post graduate degree or diploma offered by a
University shall conform to the relevant regulations
or norms of the UGC or the concerned Regulatory
Body as amended from time to time;
(f) that the admission procedure and fixation of fees
shall be in accordance with the norms or guidelines,
if any, prescribed by the Regulatory Bodies;
( g ) that the teaching staff of the University shall have at
least the minimum qualifications prescribed by the
UGC or other concerned Regulatory Bodies, and be
paid appropriate emoluments;
( h ) that the University shall be open to all persons of
either sex, and it shall not discriminate on grounds of
caste, creed, religion, race, and it shall not be lawful
for the University to adopt or impose on any person,
any test whatsoever of religious belief or any
profession in order to entitle him to be appointed as
a teacher of the University or to hold any other office
therein or to be admitted as a student or to enjoy or
exercise any privilege thereof;
( i ) to fulfil such other conditions and provide such other
information as may be prescribed by the Regulatory
Bodies.
5. After commencement of the Act the sponsor shall fulfil the
requirements and conditions specified in section 4 and shall report
compliance to the State Government within a maximum period of two
years from the date of commencement of this Act:
Provided that the State Government may allow extension of
time to such extent as it may deem fit on consideration of the progress
in fulfilling the conditions specified under section 4.
6. (1) The State Government, if satisfied after considering the
compliance report submitted by the sponsor under section 5, that the
sponsor has complied with the provisions of section 4, may, by
notification in the Official Gazette, establish the University with the
description of location, jurisdiction and such other conditions as may be
specified in this behalf:
Provided that no notification shall be made unless a High Power
Committee constituted by the Government certifies to the Government
that the sponsor has complied with the provisions of section 4 and that
the provisions of U.G.C. (Establishment of and Maintenance of
Standard in Private Universities) Regulations, 2003 have been fully
complied by the University.
Submission of
compliance
report,
verification and
inspection.
Establishment
and
incorporation.
(2) Such University shall be deemed to have been
incorporated from the date of publication of notification in the Official
Gazette under the provisions of sub-section (1).
(3) The University shall be a body corporate having perpetual
succession and common seal with powers, subject to the provisions of
this Act, to acquire, own and dispose of property, and to contract and to
do all things necessary for the purposes of this Act, and shall sue and
be sued by the same name.
(4) In all the suits and other legal proceedings by or against
such University, the pleadings shall be signed and verified by the
Registrar and all processes in such suits and proceedings shall be
issued to and be served on the Registrar.
7. The University shall be unitary, self-financing and shall neither
make a demand nor shall be entitled to any grant-in-aid or any other financial
assistance from the State Government or any other body or corporation
owned or controlled by the State Government.
8. The objectives for which the University is established are as
follows: —
(a) to provide instruction, teaching, training and research in
specialized fields of Finance and Management including
Financial Analysis, Financial Planning, Public Accounting,
Auditing, Management Accounting, Banking Treasury
Management, Insurance, Financial Services, Financial
Management, Project Management, Business Management,
Wealth Management, Law, Education, Medical Sciences,
various branches of Science and Technology and related
subjects and make provisions for research, advancement and
dissemination of knowledge therein;
(b) to offer continuing and distance education programs as per
norms of Distance Education Council (DEC) of Government of
India ;
University not to
be entitled to
financial
assistance.
Objects of the
University.
(c) to institute degrees, diplomas, charters, certificates and other
academic distinctions on the basis of examination or any other
method of evaluation;
(d) to collaborate with other colleges or Universities, research
institutions, industry associations, professional associations or
any other organization, in India or abroad, to conceptualize,
design and develop specific educational and research
programs, training programs and exchange programs for
students, faculty member and others;
(e) to establish as constituent units of the University, the
Professional Councils in various specialized branches of
professional practice such as but not limited to, Financial
Analysis leading to the Chartered Financial Analyst (CFA)
Charter and Designation, Financial Planning leading to the
Chartered Financial Planner (CFP) Charter and Designation,
Wealth Management leading to the Certified Investment
Advisor (CIA) Certificate and Designation, Public Accounting
leading to the Certified Public Accountant (CPA) Certificate
and Designation, Management Accounting leading to Certified
Management Accountant (CMA) Certificate and Designation,
Treasury Management leading to Certified Treasury
Management (CTM) Certificate and Designation, Investment
Banking leading to Certified Investment Banker (CIB)
Certificate and Designation, Bank Management leading to
Certified Bank Manager (CBM) Certificate and Designation,
Risk and Insurance leading to Certified Risk and Insurance
Management (CRIM) Certificate and Designation, Project
Management leading to certified Project Manager (CPM)
Certificate and Designation, Information Systems Audit leading
to Certified Information Systems Audit (CISA) Certificate and
Designation, and frame the necessary rules for regulation and
development of the Professional Council;
(f) to disseminate knowledge through seminars, conferences,
executive education programs, community development
programs, publications, and training programs;
(g) to undertake programs for the training and development of
faculty members of the University and other institutions in India
or abroad;
(h) to undertake collaborative research with any organization in
India or abroad;
(i) to create higher levels of intellectual abilities;
(j) to provide consultancy to industry, Government and Public
Organization;
(k) to ensure that the standard of the degrees, diplomas, charters,
certificates and other academic distinctions are not lower than
those laid down by the University Grants Commission and
other Regulatory Bodies, as the case may be ;
(l) to do all things necessary or expedient to promote the above
objectives;
(m) to pursue any other objective as may be approved by the State
Government.
9. Subject to other provisions of this Act, the Statutes or Rules made
there under or any other relevant laws for the time being in force, the
University shall have the following powers, namely:—
(a) to establish Off-Campus Centres and study centres, as are in
the opinion of the University, necessary for the furtherance of
its objects in conformity with the provisions of the University
Grants Commission (Establishment of and Maintenance of
Standards in Private Universities) Regulations, 2003;
(b) to design, develop and administer Professional Certification
and Designation Programs in specialized fields including, but
not limited to, Financial Analysis, leading to the Chartered
Financial Analyst (CFA) Charter and Designation, Financial
Planning leading to the Chartered Financial Planner (CFP)
Charter and Designation, Wealth Management leading to the
Certified Investment Advisor (CIA) Certificate and Designation,
Public Accounting leading to the Certified Public Accountant
(CPA) Certificate and Designation, Management Accounting
Powers of the
University.
leading to Certified Management Accountant (CMA)
Certificate and Designation, Treasury Management leading to
Certified Treasury Management (CTM) Certificate and
Designation, Investment Banking leading to Certified
Investment Banker (CIB) Certificate and Designation, Bank
Management leading to Certified Bank Manager (CBM)
Certificate and Designation, Risk and Insurance leading to
Certified Risk and Insurance Management (CRIM) Certificate
and Designation, Project Management leading to certified
Project Manager (CPM) Certificate and Designation,
Information Systems Audit leading to Certified Investment
Systems Audit (CISA) Certificate and Designation;
(c) to establish and develop Professional Councils as envisaged in
clause (e) of section 8;
(d ) to carry out all such other activities as may be necessary or
feasible in furtherance of the object of the University;
(e) to confer degrees, diplomas, charters, certificates or other
academic distinctions and professional designations as
envisaged under section 8 in the manner and under conditions
laid down in the Statutes;
(f) to institute and award fellowships, scholarships and prizes etc.,
in accordance with the Statutes;
(g) to demand and receive such fees, bills, invoices and collect
charges as may be fixed by the Statutes or Rules, as the case
may be;
(h) to make provisions for extra curricular activities for students
and employees;
(i) to make appointments of the faculty, officers and employees of
the University or Off-campus centre and study centres;
(j) to receive donations and gifts of any kind and to acquire, hold,
manage, maintain and dispose of any movable or immovable
property, including trust and endowment properties for the
purpose of the University or a Off-campus centre or a Study
Centre;
(k) to institute and maintain halls and to recognize places of
residence for students of the University or Off-campus centre;
(l) to supervise and control the residence, and to regulate the
discipline among the students and all categories of employees
and to lay down the conditions of service of such employees,
including their Code of Conduct;
(m) to create academic, administrative and support staff and other
necessary posts;
(n) to co-operate and collaborate with other Universities and
Institutions in such a manner and for such purposes as the
University may determine from time to time;
(o) to offer programs on distance learning basis and continuing
education and the manner in which such programs are offered
by the University;
(p) to organize and conduct refresher courses, orientation
courses, workshops, seminars and other programs for
teachers, developers of course ware, evaluators and other
academic staff;
(q) to determine standards of admission to the University and Off-
campus centre with the approval of Academic Council;
(r) to make special provision for students belonging to the State of
Orissa for admission in any course of the University or Off-
campus centre;
(s) to do all such other acts or things whether incidental to the
powers aforesaid or not, as may be necessary to further the
objects of the University;
(t) to prescribe such courses for Bachelor Degree, Master
Degree, Doctor of Philosophy, Doctor of Science Degrees and
Research and such other Degrees, Diplomas, Charters,
Certificates etc.;
(u) to provide for the preparation of instructional materials,
including films, cassettes, tapes, video cassettes, Compact
Disk, Visual Compact Disk and other software;
(v) to recognize examinations or periods of study (whether in full
or in part) of other Universities, institutions or other places of
Higher learning as equivalent to examinations or periods of
study in the University and to withdraw such recognition at any
time;
(w) to raise, collect, subscribe and borrow with the approval of the
Board of Governors whether on the security of the property of
the University, money for the purposes of the University;
(x) to enter into, carry out, vary or cancel contracts;
(y) to do all things necessary or expedient to exercise the above
powers .
10. The University shall be open to all persons.
11. (1) The University will seek, obtain and retain accreditation from
respective national accreditation bodies and be subject to relevant provisions
of the University Grants Commission Act, 1956 and the Regulations or
Guidelines made thereunder from time to time relating to private Universities.
(2) The University shall obtain prior permission or recognition from
National Council for Technical Education and Bar council of India before
commencing Teachers’ Training programme and Law Education programme
respectively for conferring graduate or post graduate degrees and for other
programmes permission or recognition from concerned Regulatory Bodies, if
required by any law for the time being in force, shall be obtained.
(3) As regards other programmes on technical education the
relevant laws, rules, regulations etc. in the matter of obtaining approval or
recognition or maintaining standards shall apply to the University.
CHAPTER - III
OFFICERS OF THE UNIVERSITY
12. The following shall be the officers of the University, namely:—
(a) the Chancellor;
(b) the Vice-Chancellor;
(c) the Registrar;
(d) the Finance Officer; and
(e) such other officers as may be declared by the Statutes to be
officers of the University.
University open
to all persons.
National
Accreditation.
Officers of the
University.
3 of 1956.
National
Accreditation.
13. (1) The Governor of Orissa shall be the Visitor of the University.
(2) The Visitor shall, when present, preside at the convocation of
the University for conferring Degrees, Diplomas, Charters, Designations and
Certificates.
(3) The Visitor shall have the following powers to be exercised in
accordance with the procedure laid down in the Statutes, namely:—
(a) to call for any paper or information relating to the affairs of
the University;
(b) on the basis of the information received by the Visitor, if he
is satisfied that any order, proceeding, or decision taken by
any authority of the University is not in conformity with the Act,
Statutes or Rules, he may issue such directions as he may
deem fit in the interest of the University and the directions so
issued shall be complied with by all concerned.
14. (1) The Sponsor shall, with the prior approval of the Visitor,
appoint a person suitable to be appointed as the Chancellor of the University.
(2) The Chancellor so appointed shall hold the office for a period
of five years.
(3) The Chancellor shall be the head of the University.
(4) The Chancellor shall preside at the meeting of the Board of
Governors and shall, when the Visitor is not present, preside at the
convocation of the university for conferring degrees, diplomas, Charters,
Designations or Certificates.
(5) The Chancellor shall have the following powers, namely: —
(a) to call for any information or record;
(b) to appoint the Vice-Chancellor;
(c) to remove the Vice-Chancellor;
(d) such other powers as may be conferred on him by this Act
or the Statutes.
15. (1) The Vice-Chancellor shall be appointed by the Chancellor on
such terms and conditions as may be prescribed.
The Visitor.
The Chancellor.
The Vice-
Chancellor.
(2) The Vice-Chancellor shall be appointed by the Chancellor from
a panel of three persons recommended by the Board of Governors and shall
hold office for a term of four years:
Provided that, after expiration of the term of four years, the
Vice-Chancellor shall be eligible for re-appointment for another term not
exceeding four years.
(3) The Vice-Chancellor shall be the principal executive and
academic officer of the University and shall exercise general supervision and
control over the affairs of the University and give effect to the decisions of the
authorities of the University.
(4) If in the opinion of the Vice-Chancellor it is necessary to take
immediate action on any matter for which powers are conferred on any other
authority by or under this Act, he may take such action as he deems
necessary and shall at the earliest opportunity thereafter report his action to
such officers or authority as would have in the ordinary course dealt with the
matter:
Provided that if in the opinion of the concerned authority such
action should not have been taken by the Vice-Chancellor, then such case
shall be referred to the Chancellor, whose decision thereon shall be final:
Provided further that where any such action taken by the Vice-
Chancellor affects any person in the service of the University, such person
shall be entitled to prefer, within three months from the date on which such
action is communicated to him, an appeal to the Board of Governors and the
Board of Governors may confirm or modify or reverse the action taken by the
Vice-Chancellor.
(5) If in the opinion of the Vice-Chancellor any decision of any
authority of the University is outside the powers conferred by this Act,
Statutes or is likely to be prejudicial to the interest of the University, he shall
request the concerned authority to revise its decision within seven days from
the date of his decision and in case the authority refuses to revise such
decision wholly or partly or fails to take any decision within seven days, then
such matter shall be referred to the Chancellor and his decision thereon shall
be final.
(6) The Vice-Chancellor shall exercise such other powers and
perform such other duties as may be laid down by the Statutes or the Rules.
(7) The Vice-Chancellor shall preside at the convocation of the
University in the absence of both, the Visitor and the Chancellor, for
conferring degrees, diplomas, Charters, Designations or Certificates.
(8) The Chancellor is empowered to remove the Vice-Chancellor
after due enquiry and it will be open to the Chancellor to suspend the Vice-
Chancellor during enquiry depending upon the seriousness of the charges, as
he may deem fit.
16. Deans of faculties shall be appointed by the Vice-Chancellor in
such manner and shall exercise such powers and perform such duties as may
be prescribed.
17. (1) The appointment of the Registrar shall be made in such
manner as may be prescribed.
(2) All contracts shall be signed and all documents and records
shall be authenticated by the Registrar on behalf of the University.
(3) The Registrar shall exercise such other powers and perform
such other duties as may be prescribed or may be required from time to time,
by the Board of Governors.
(4) The Registrar shall be responsible for the due custody of the
records and the common seal of the University and shall be bound to place
before the Chancellor, the Vice-Chancellor or any other authority, all such
information and documents as may be necessary for transaction of their
business.
18. The Finance Officer shall be appointed by the Board of Governors
in such manner and shall exercise such powers and perform such duties as
may be prescribed.
19. The manner of appointment, terms and conditions of service and
powers and duties of other officers of the University shall be such, as may be
prescribed.
Deans of
Faculties.
The Registrar.
The Finance
Officer.
Other officers.
CHAPTER - IV
AUTHORITIES OF THE UNIVERSITY
20. The following shall be the authorities of the University, namely: —
(a) the Board of Governors;
(b) the Board of Management;
(c) the Academic Council;
(d) the Finance Committee; and
(e) such other authorities as may be declared by the Statutes to
be the authorities of the University.xc
21. (1) The Board of Governors shall consist of the following: —
(a) the Chancellor;
(b) the Vice-Chancellor;
(c) three persons nominated by the Sponsor out of whom two
shall be eminent educationist;
(d) two experts nominated by the State Government ;
(e) one expert of Finance nominated by the Chancellor ;
(f) two members from the Orissa Legislative Assembly
nominated by the Speaker ; and
(g) the Secretary to Government, Higher Education
Department will be a member in his ex-officio capacity.
(2) The Chancellor shall be the Chairman of the Board of
Governors.
(3) The Registrar shall be an ex-officio Secretary of the Board of
Governors.
(4) The Board of Governors shall be the supreme authority and
principal governing body of the University and shall have the following
powers, namely: —
(a) to appoint the Statutory Auditors of the University;
(b) to lay down policies to be pursued by the University;
(c) to review decisions of the other authorities of the University
if they are not in conformity with the provisions of this Act,
or the Statutes or the Rules;
Authorities of the
University.
The Board of
Governors and its
powers.
(d) to approve the budget and annual report of the University;
(e) to make new or additional Statutes and Rules or amend or
repeal the earlier Statutes and Rules with the approval of
the State Government;
(f) to take decision about voluntary winding up of the
University;
(g) to approve proposals for submission to the State
Government; and
(h) to take such decisions and steps as are found desirable for
effectively carrying out the objects of the University.
(5) The Board of Governors shall, meet at least twice in a calendar
year at such time and place as the Chancellor thinks fit.
22. (1) The Board of Management shall consist of —
(a) the Vice-Chancellor;
(b) the Registrar;
(c) two members of the Board of Governor, nominated by the
Sponsor;
(d) three persons, who are not the members of the Board of
Governor, nominated by the Sponsor; and
(e) two teachers, nominated by the Vice-Chancellor.
(2) The Vice-Chancellor shall be the Chairperson of the Board of
Management and the Registrar shall be the Secretary of the Board of
Management.
(3) The powers and functions of the Board of Management shall
be such, as may be prescribed.
23. (1) The Academic Council shall consist of —
(a) the Vice-Chancellor – Chairman;
(b) the Registrar – Secretary;
(c) such other members as may be prescribed.
(2) The Academic Council shall be the principal academic body of
the University and shall, subject to the provisions of this Act, the Statutes and
the Rules, co-ordinate and exercise general supervision over the academic
policies of the University.
The Board of
Management.
The Academic
Council.
24. (1) The Finance committee shall consist of —
(a) the Vice-Chancellor – Chairman;
(b) the Registrar – Secretary;
(c) the Finance Officer–Member; and
(d) such other members as may be prescribed.
(2) The Finance Committee shall be the principal financial body of
the University to take care of financial matters and shall, subject to the
provisions of this Act, Statutes and Rules, co-ordinate and exercise general
supervision over the financial matters of the University.
25. The constitution, powers and functions of other authorities of the
University shall be such, as may be prescribed.
26. No act or proceeding of any authority of the University shall be
invalid merely by reason of the existence of any vacancy or defect in the
constitution of the authority.
CHAPTER - V
STATUTES AND RULES
27. Subject to the provisions of this Act, the Statutes may provide for
all or any of the following matters namely : —
(a) the constitution, powers and functions of the authorities and
other bodies of the University not specified in the Act, as may
be constituted from time to time;
(b) the operation of the Endowment Fund, the General Fund and
the Development Fund;
(c) the terms and conditions of appointment of the Vice-
Chancellor, the Registrar and the Finance Officer and their
powers and functions;
(d) the mode of recruitment and the conditions of service of other
officers, teachers and employees of the University;
(e) the procedure for resolving disputes between the University
and its officers, faculty members, employees and students;
The Finance
Committee.
Other authorities.
Proceedings not
invalidated on
account of
vacancy.
Statutes.
(f) creation, abolition or restructuring of departments and
faculties;
(g) the manner of co-operation with other Universities or
Institutions of higher learning;
(h) the procedure for conferment of honorary degrees;
(i) provisions regarding grant of freeships and scholarships;
(j) number of seats in different courses of studies and the
procedure of admission of students to such courses;
(k) the fee chargeable from students for various courses of
studies;
(l) institution of fellowships, scholarships, studentships, freeships,
medals and prizes;
(m) procedure for creation and abolition of posts;
(n) other matters which may be prescribed.
28. (1) The first Statutes framed by the Board of Governors shall be
submitted to the State Government for its approval, which may, within three
months from the date of receipt of the Statutes give its approval with or
without modifications.
(2) Where the State Government fails to take any decision with
respect to the approval of the Statutes within the period specified under sub-
section (1) it shall be deemed to have been approved by the State
Government.
29. The Board of Governors may, with the prior approval of the State
Government, make new or additional Statutes or amend or repeal the
Statutes.
30. Subject to the provisions of this Act, the Rules may provide for all
or any of the following matters, namely: —
(a) admission of students to the University and their enrolment
and continuance as such;
(b) the courses of study to be laid down for all Degrees, Diplomas,
Certificates, Charters and other academic distinctions of the
University;
Manner to make
Statutes.
Power to amend
the Statutes.
Rules.
(c) the award of Degrees, Diplomas, Charters, Certificates and
other academic distinctions of the University;
(d) creation of new authorities of the University;
(e) accounting policy and financial procedure;
(f) the conditions of the award of fellowships, scholarships,
studentships, medals and prizes;
(g) the conduct of examinations and the conditions and mode of
appointment and duties of examining bodies, examiners,
invigilators, tabulators and moderators;
(h) the fee to be charged for admission to the examinations,
Degrees, Diplomas, Certificates, Charters and other academic
distinctions of the University;
(i) revision of fees;
(j) alteration of number of seats in different courses and
programmes;
(k) the conditions of residence of the students at the University;
(l) maintenance of discipline among the students of the
University; and
(m) all other matters as may be provided in the Statutes and Rules
under the Act.
31. (1) The Rules shall be made by the Board of Governors and the
Rules so made shall be submitted to the State Government for its approval,
which may, within two months from the date of receipt of the Rules, give its
approval with or without modification.
(2) Where the State Government fails to take any decision with
respect to the approval of the Rules within the period specified under sub-
section (1), it shall be deemed to have been approved by the State
Government.
32. The Board of Governors may, with the prior approval of the State
Government make new or additional Rules or amend or repeal the Rules.
Manner to make
Rules.
Power to
amend Rules.
33. (1) The admission procedure shall be in accordance with the
norms and guidelines prescribed by the U.G.C. and other Regulatory Bodies,
as the case may be, depending on the course in which students seek
admission.
(2) In the absence of the guidelines as under sub-section (1)
admission in the University shall be made strictly on the basis of merit.
(3) Merit for admission in the University may be determined either
on the basis of marks or grade obtained in the qualifying examination and
achievements in co-curricular and extra-curricular activities or on the basis of
marks or grade obtained in the entrance test conducted at State level either
by an association of the Universities conducting similar courses or by any
agency of the State.
34. (1) The University may, from time to time, prepare its fees
structure in accordance with the norms and guidelines prescribed by the
U.G.C. and other Regulatory Bodies depending on the course in which the
students seek admission.
(2) The University shall not charge any fees, by whatever name
called, other than that for which it is entitled under sub-section (1).
(3) The University shall implement a scheme for providing
concession in fees to the University by the students belonging to Scheduled
Castes, and Scheduled Tribes Community and Economically Weaker
Sections from the State of Orissa.
CHAPTER - VI
MISCELLANEOUS
35. (1) Every employee shall be appointed under a written contract,
which shall be kept in the University and a copy of which shall be furnished to
the employee concerned.
(2) Disciplinary action against the students or employees shall be
governed by procedure prescribed.
36. Every employee or student of the University shall, notwithstanding
anything contained in this Act, have a right to appeal within such time as may
be prescribed, to the Board of Management against the decision of any officer
or authority of the University and thereupon the Board of Management may
confirm, modify or change the decision appealed against.
Admission.
Fee structure.
Conditions of
service of
employees.
Right to appeal.
37. The University shall constitute for the benefit of its employees such
provident or pension fund and provide such insurance scheme as it may
deem fit in such manner and subject to such conditions as may be prescribed.
38. If any question arises as to whether any person has been duly
elected or appointed as, or is entitled to be a member of any authority or other
body of the University, the matter shall be referred to the Chancellor whose
decision thereon shall be final.
39. Any authority of the University mentioned in section 20 is
empowered to constitute a committee of such authority, consisting of such
members as such authority may deem fit, and having such powers as the
authority may deem fit.
40. Any casual vacancy among the members, other than ex-officio
members, of any Authority or body of the University shall be filled in the same
manner in which the member whose vacancy is to be filled up, was chosen,
and the person filling the vacancy shall be a member of such authority or
body for the residue of the term for which the person whose place he/she fills
would have been a member.
41. (1) No suit or other legal proceedings shall lie against any officer
or other employee of the University for anything, which is done in good faith
or intended to be done in pursuance of the provisions of this Act, the Statutes
or the Rules.
(2) Nothing in sub-section (1) of section 41 shall be a bar for
filing suits, prosecutions or other legal proceedings for anything done in
contravention to this Act or the Regulations made thereunder.
42. (1) Notwithstanding anything contained in any other provisions of
this Act and the Statutes —
(a) the first Vice-Chancellor shall be appointed by the Chancellor
and the said officer shall hold office for a term of three years;
(b) the first Registrar and the first Finance Officer shall be
appointed by the Chancellor who shall hold office for a term of
three years;
(c) the first Board of Governors shall hold office for a term not
exceeding three years; and
Provident fund
and pension.
Disputes as to
constitution of
University
authorities and
bodies.
Constitution of
committees.
Filling of
casual
vacancies.
Protection of
action taken in
good faith.
Transitional
provisions.
(d) the first Board of Management, the first Finance Committee
and the first Academic Council shall be constituted by the
Chancellor for a term of three years.
43. (1) The Sponsor shall establish an Endowment Fund of Rupees
five crores.
(2) The amount of Endowment Fund shall be invested and kept
invested until the dissolution of the University in long term securities issued or
guaranteed by the State Government.
(3) The University may transfer any amount from the General
Fund or the Development Fund to the Endowment Fund.
(4) Excepting in the dissolution of the University, in no other
circumstances can any money be transferred from the Endowment Fund for
other purposes.
(5) Of the incomes received from the Endowment Fund, an
amount not exceeding 75% shall be used for the purposes of development
works of the University and the remaining 25% shall be reinvested in the
Endowment Fund.
44. (1) The University shall establish a General Fund to which the
following amount shall be credited, namely: —
(a) all fees which may be charged by the University;
(b) all sums received from any other source;
(c) all contributions made by the Sponsor;
(d) all contributions or donations made in this behalf by any
other person or body, which are not prohibited by any law
for the time being in force.
(2) The funds credited to the General Fund shall be applied to
meet the following payments, namely: —
(a) the repayment of debts including interest charges thereto
incurred by the University for the purposes of this Act and
the Statutes and the Rules made thereunder;
(b) the upkeep of the assets of the University;
Endowment
Fund.
General Fund.
(c) the payment of the cost of audit of the fund created under
this section and section 45;
(d) meeting the expenses of any suit or proceedings to which
University is a party;
(e) the payment of salaries and allowances of the officers and
employees of the University, members of the teaching and
research staff, and payment of any Provident Fund
contributions, gratuity and other benefits to any such
officers and employees, members of the teaching and
research staff;
(f) the payment of travelling and other allowances of the
members of the Board of Governors, the Board of
Management, Academic Council, and other authorities so
declared under the Statutes of the University and of the
members of any Committee or Board appointed by any of
the authorities of the University in pursuance of any
provision of this Act, or the Statutes, or the Rules made
thereunder;
(g) the payment of fellowships, freeships, scholarships,
assistantships and other awards to students, research
associates or trainees eligible for such awards under the
Statutes or Rules of the University;
(h) the payment of any expenses incurred by the University in
carrying out the provisions of this Act, and the Statutes or
the Rules;
(i) the payment of cost of capital, not exceeding the prevailing
bank rate of interest, incurred by the Sponsor for setting up
the University and the investments made thereof;
(j) the payment of charges and expenditure relating to the
consultancy work undertaken by the University in
pursuance of the provisions of this Act and the Statutes,
and the Rules;
(k) the payment of any other expenses including a
management fee payable to any organization charged with
the responsibility of managing the University on behalf of
the Sponsor, as approved by the Board of Management to
be an expense for the purposes of the University:
Provided that no expenditure shall be incurred by
the University in excess of the limits for total recurring
expenditure and total non-recurring expenditure for the
year as may be fixed by the Board of Management without
the previous approval of the Board of Management:
Provided further that the General Fund shall be
applied for the objects specified under sub-section (2) with
the prior approval of the Board of Management of the
University.
45. (1) The University shall also establish a Development Fund to
which the following funds shall be credited, namely: —
(a) development fees which may be charged from students;
(b) all sums received from any other source for the purposes
of the development of the University;
(c) all contributions made by the Sponsor;
(d) all contributions or donations made in this behalf by any
other person or body which are not prohibited by any law
for the time being in force; and
(eExcerpt shown. Open the full act in Lexace.