31 2.3.2 Supervision of the proper administration of the University and its assets. 2.3.3 The election of the President and transfer of his/her term of office (as stipulated below), subject to approval by the Council. 2.3.4 Supervision of the modus operandi of the President and fulfillment of his/her functions. 2.3.5 Recommendation to the Council on amendments to the University Regulations/Statutes, as specified in Paragraphs 1415 of the Statutes. 2.3.6 Approval of the University's budgets. 2.3.7 Approval of financial reports. 2.3.8 Approval of the establishment of academic units and alterations therein. 2.3.9 Approval of development programs of the University as brought before the Committee by the President. 2.3.10 Approval of rules for the appointment of senior Office Holders of the University (with the exception of those expressly determined in the Statutes and Regulations) and determination of their working conditions and pay. 2.3.11 Determination of authorized signatories of the University and their powers and approval of opening bank accounts in the University's name. 2.3.12 The appointment of a Comptroller and Internal Auditor for the University, and approval of the appointment of the Rector, Vice Presidents, the Director General and the Legal Advisor therefor. 2.3.13 Receipt of regular reports on the activities and programs of the University.
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