2. The Finance Committee of the Delegates, established in accordance with section 18 of Statute VIII, shall consist of:
(1) a chairman elected by the Delegates;
(2) the Vice-Chancellor;
(3) the Senior Proctor;
(4)-(9) six members elected by the Delegates from among the appointed Delegates;
(10)-(13) four persons possessing high qualifications in business or finance and appointed by Council after consultation with the Delegacy;
(14) the Secretary to the Delegates and Chief Executive;
(15) the Finance Director;
(16)-(20) not more than five senior officers of the Press appointed by the Delegates.
3. (1) The chairman shall be elected either from among the appointed Delegates or from among persons who have previously served as a Delegate and who have recently served as a member of the Finance Committee.
(2) The chairman and the six members elected from among the appointed Delegates shall hold office for a period not exceeding five years and, so long as they continue to be Delegates, shall be eligible for re-election for successive further periods not exceeding five years; save that a chairman who is not elected from among the appointed Delegates shall serve in that capacity for only one period of five years.
(3) If any Delegate-member of the Finance Committee shall cease to be a Delegate, his or her membership of the committee shall immediately be terminated.
4. The members appointed by Council shall hold office for five years and shall be eligible for reappointment.
5. The senior officers of the Press appointed by the Delegates shall hold office for such periods as the Delegates may determine.
6. (1) The Delegates shall determine the emoluments and allowances to be paid by the Press to the Chairman of the Finance Committee in respect of his or her tenure of that office.
(2) At the request of the Delegates, the Personnel Committee of Council may relieve the chairman of such of his or her regular university duties, and on such terms, as it may determine.
7. (1) The Finance Committee shall submit the minutes of its meetings to the next meeting of the Delegates and shall keep the Delegates informed regarding matters dealt with or under consideration by the Finance Committee.
(2) The Finance Committee may set up such subcommittees as it may from time to time think fit, and such subcommittees may include persons who are not members of the Finance Committee.