(1)  The Central Government may, by notification, appoint a person of eminence as the Chancellor of the University.

   (2)  The Chancellor shall hold office for a term of five years or until he attains the age of seventy years, whichever is earlier:

   Provided that notwithstanding the expiry of his term of office, the Chancellor shall continue to hold office until his successor enters upon his office.

   (3)  The terms and other conditions of service of Chancellor shall be such as may be provided by the Statutes.

   (4)  The Chancellor shall, by virtue of his office, be the Head of the University and shall, if present, preside at the Convocations of the University held for conferring degrees and other ceremonial functions and also the meetings of the Governing Board.

   (5)  The Chancellor shall exercise such other powers and perform such other duties as may be assigned to him under this Act and the Statutes made thereunder.