(1)The Finance Committee of each Institute shall consist of the following persons, namely:—
(a)the Chairperson of the Board shall be the ex officio 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 finance, ex officio;
(c)one representative of the State Government in which the Institute is located, ex officio;
(d)one representative of the industry partners chosen from amongst themselves;
(e)the Director, ex officio; and
(f)the officer in-charge 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.