45. (1) An officer specified in any of the clauses (b) to (h) of section 10 shall be liable to surcharge for the loss, waste or misapplication of any money or property of the University if such loss, waste or misapplication is a direct consequence of his neglect or misconduct.
(2) The procedure of surcharge and the manner of recovery of the amount involved in such loss, waste or misapplications shall be such as may be prescribed.
