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ACT X OF 2020 ACT X OF 2020 BABA GURU NANAK UNIVERSITY NANKANA SAHIB ACT, 2020 An Act to provide for the establishment of Baba Guru Nanak University Nankana Sahib [Gazette of Punjab Extraordinary, 2nd July, 2020] Baba Guru Nanak University Nankana Sahib Act, 2020 was passed by the Punjab Assembly on 26 June 2020; assented to by the Governor of the Punjab on 1st July 2020; and was published in the Punjab Gazette (Extraordinary), dated 2nd July 2020, pages 67-83. It is necessary in public interest to make provisions for the establishment of Baba Guru Nanak University Nankana Sahib and for the matters connected therewith and ancillary thereto. Be it enacted by Provincial Assembly of the Punjab as follows: CHAPTER VI UNIVERSITY FUND 47. Budget, Audit and accounts.---(1) The accounts of the University shall be maintained in such form and in such manner as may be prescribed. (2) No expenditure shall be made from the University Fund unless a bill for payment has in the prescribed manner, been audited by the Resident Auditor in conformity with the Statutes, Regulations and Rules. (3) The accounts of the University shall be audited in the prescribed manner once in a year by an auditor appointed by the Government in this behalf. (4) The Syndicate may delegate the power of appropriation or re-appropriation of funds to an officer of the University. (5) The annual statement of accounts of the University signed by the Treasurer and the Resident Auditor shall be submitted to the Government within six months of the closing of the financial year. (6) The accounts of the University together with audit objections, if any, and the observations of the Resident Auditor and the Treasurer shall, in the prescribed manner, be presented to the Syndicate with the remarks of the Finance and Planning Committee.