The Finance Committee shall perform the following functions, namely:—
(a)to scrutinise the accounts and budget estimates of the Institute and to make recommendations to the Executive Council;
(b)to scrutinise the proposals for new expenditure on account of major works on purchases;
(c)to scrutinise re-appropriation statements and audit notes and make recommendations thereon to the Executive Council;
(d)to review the finances of the Institute from time to time and have concurrent audit conducted whenever necessary; and
(e)to give advice and make recommendations to the Executive Council on any financial questions affecting the affairs of the Institute.