State Act
Section 26. Control on funds of the University
THE ROORKEE UNIVERSITY ACT 1947
This Act was repealed on 21 September 2001 by the Institutes of Technology (Amendment) Act, 2002 (Central Act 16 of 2002), s.7(1); it may still apply to matters that began before then.
26- (1) The Vice-Chancellor shall, subject to the provisions of this Act and the rules and regulations, be responsible for managing the property and for the investments of the University. He shall also be responsible for the presentation of the annual estimates and statement of accounts. (2) The Auditors, appointed by the [State Government]1 shall audit the accounts of the University and submit a report to the Vice- Chancellor as well as the [State Government]1. An Accounts Officer, appointed by the [State Government]1 according to the rules, shall be responsible for seeing that all moneys are spent on the purposes for which they are granted or allotted and that all accounts are properly maintained. (3) Every contract shall be signed by the Vice-Chancellor or a person authorized by him in this behalf.