16Functions of Council
(1A)
The Council—
(a)
acts for and on behalf of the University in the
exercise of the University’s functions, and
(b)
has the control and management of the affairs and
concerns of the University, and
(c)
may act in all matters concerning the University
in such manner as appears to the Council to be best calculated to promote the
object and interests of the University.
(1B)
Without limiting the functions of the Council
under subsection (1A), the Council is, in controlling and managing the affairs
and concerns of the University—
(a)
to monitor the performance of the
Vice-Chancellor, and
(b)
to oversee the University’s performance,
and
(c)
to oversee the academic activities of the
University, and
(d)
to approve the University’s mission,
strategic direction, annual budget and business plan, and
(e)
to oversee risk management and risk assessment
across the University (including, if necessary, taking reasonable steps to
obtain independent audit reports of entities in which the University has an
interest but which it does not control or with which it has entered into a
joint venture), and
(e1)
without limiting paragraph (e), to enter into or
participate in arrangements or transactions, or combinations of arrangements
or transactions, to effect financial adjustments for the management of
financial risks, and
(f)
to approve and monitor systems of control and
accountability for the University (including in relation to controlled
entities within the meaning of section 16A), and
(g)
to approve significant University commercial
activities (within the meaning of section 21A), and
(h)
to establish policies and procedural principles
for the University consistent with legal requirements and community
expectations, and
(i)
to ensure that the University’s grievance
procedures, and information concerning any rights of appeal or review
conferred by or under any Act, are published in a form that is readily
accessible to the public, and
(j)
to regularly review its own performance (in light
of its functions and obligations imposed by or under this or any other Act),
and
(k)
to adopt a statement of its primary
responsibilities, and
(l)
to make available for members of the Council a
program of induction and of development relevant to their role as such a
member.
(1)
Without limiting the functions of the Council
under subsection (1A), the Council may, for and on behalf of the University in
the exercise of the University’s functions—
(a)
provide such courses, and confer such degrees and
award such diplomas and other certificates, as it thinks
fit,
(b)
appoint and terminate the appointment of academic
and other staff of the University,
(c)
(d)
obtain financial accommodation (including,
without limitation, by the borrowing or raising of money) and do all things
necessary or convenient to be done in connection with obtaining financial
accommodation,
(e)
invest any funds belonging to or vested in the
University,
(f)
promote, establish or participate in (whether by
means of debt, equity, contribution of assets or by other means) partnerships,
trusts, companies and other incorporated bodies, or joint ventures (whether or
not incorporated),
(g)
(h)
establish and maintain branches and colleges of
the University, within the University and elsewhere,
(i)
make loans and grants to students,
and
(j)
impose fees, charges and
fines.
(2)
The functions of the Council under this section
are to be exercised subject to the by-laws.
(3)
Schedule 2 has effect in relation to the
investment of funds by the Council.
Note—
The Annual Reports (Statutory
Bodies) Act 1984 regulates the making of annual reports to
Parliament by the Council and requires the Council to report on the
University’s operations (including in relation to risk management and
insurance arrangements) and a range of financial and other
matters.
s 16: Am 1996 No 24,
Sch 1; 2001 No 101, Sch 2 [4]–[11]; 2004 No 115, Sch 2 [3]; 2014 No 43,
Sch 1.2 [2]; 2017 No 22, Sch 1.12 [1] [2].
s 16, note: Ins 2004
No 115, Sch 2 [4].