(1)The Finance Committee of each Institute shall consist of the following persons, namely:—
(a)the Chairperson, Board of Governors, ex officio, who shall be the Chairperson of the Committee;
(b)one representative of the Government of India, Ministry of Human Resource Development, Department of Higher Education handling the matters relating to Indian Institute of Information Technology, ex officio;
(c)one representative of the Government of India, Ministry of Human Resource Development, Department of Higher Education handling the matters relating to finance, ex officio;
(d)two persons nominated by the Board;
(e)the Director, ex officio;
(f)the Officer incharge of Finance and Accounts of the Institute, ex officio Secretary.
(2)The members of the Finance Committee other than ex officio members shall hold office for a term of three years.