(1) Subject to the provisions of this Act, the Board of every Institute shall be responsible for the general superintendence, direction and control of the affairs of the Institute and shall have the power to frame, amend, modify or rescind the Statutes and Ordinances governing the affairs of the Institute to achieve the objects specified in section 6.
     (2) Without prejudice to the provisions of sub-section (1), the Board shall have the following powers, namely:—
         (a) to take decisions on questions of policy relating to the administration and working of the Institute;
         (b) to establish departments, faculties or schools of studies and initiate programmes or courses of study at the Institute;
         (c) to examine and approve the annual budget estimates of such Institute;
         (d) to examine and approve the plan for development of such Institute and to identify sources of finance for implementation of the plan;
         (e) to create teaching and other academic posts, to determine, by Statutes, the number and emoluments of such posts and to define the duties and conditions of service of teachers and other academic staff:
         Provided that the Board shall not take action otherwise than on consideration of the recommendations of the Senate;
         (f) to provide, by Statutes, the qualifications, criteria and processes for appointment to teaching and other posts in such Institute;
         (g) to fix fees, by the Statutes and other charges to be demanded for pursuit of studies in the Institute;
         (h) to make Statutes governing the administration, management and operations of such Institute; and
         (i) to exercise such other powers and perform such other duties as may be conferred or imposed upon it by this Act or Statutes.
     (3) The Board shall have the power to appoint such committees, as it considers necessary for the exercise of its powers and the performance of its duties under this Act.
     (4) The Board shall conduct an annual review of the performance of the Direct with specific reference to his leadership in the context of the achievement of the objects of the Institute.
     (5) Where in the opinion of the Director or the Chairperson, the situation is so emergent that an immediate decision needs to be taken in the interest of the Institute, the Chairperson, in consultation with the Director may issue such orders as may be necessary, recording the grounds for his opinion:
     Provided that such orders shall be submitted for ratification of the Board in the next meeting.