12. (1) The Vice-Chancellor shall be appointed by the Chancellor from a panel of three persons to be nominated by the Senate for a period of four years on such terms and conditions as the Chancellor may determine. A person appointed as Vice-Chancellor shall be eligible for nomination and appointment for a second term only. ¹[(2) Where any temporary vacancy in the office of the Vice-Chancellor occurs by reason of leave, illness, resignation or any other cause, the Chancellor shall make such arrangements for carrying on duties of the office of the Vice-Chancellor as he may think fit.]