(1) There shall be a Finance Committee of the Institute which shall be the principal financial body of the Institute.
     (2) The Finance Committee shall consist of the following, namely:--
         (a) Director-Presiding Officer of the Finance Committee;
         (b) Joint Secretary and Financial Adviser in the Union Ministry of Youth Affairs and Sports;
         (c) Registrar of the Institute;
         (d) one Professor of the Institute on rotation basis, as may be nominated by the Chairperson;
         (e) one Member from the Executive Council to be nominated by the Chairperson;
         (f) Joint Secretary in the Ministry of Youth Affairs and Sports dealing with the affairs of the Institute;
         (g) the Finance Officer of the Institute--Member-Secretary.
     (3) The term of office of members of the Finance Committee and its powers shall be such as may be provided by the Statutes.
     (4) While nominating the members of the Academic Council due representation shall be given to women, different regions of the country, weaker sections of the community and differently abled persons.