Section 7: Functions of the Council and its Finance and General Purpose Committee.

1 Subject to the provisions of this Act relating to the Visitor, the Council shall be the governing body of the University and is charged with the general control and superintendence of the policy, finance and property of the University, including its public relations.

2 There is the Finance and General Purposes Committee which shall, subject to the directions of the Council, exercise control over the property and expenditure of the University and perform such other functions of the Council as the Council may delegate to it.

3 The Statute shall make provisions with respect to the composition of the Finance and General Purposes Committee.

4 The Council shall ensure that:
a proper accounts of the University are kept;
b the accounts of the University are audited annually by an independent firm of auditors approved by the Council;
c an annual report is published by the University, together with certified copies of the said accounts as audited.

5 Subject to this Act and the Statute, the Council and the Finance and General Purposes Committee may each make rules for regulating their own procedure.

6 The rules made under subsection (5) by the Finance and General Purposes Committee shall not take effect unless they are approved by the Council.

7 Where the rules made by that Committee under subsection (6) conflict with any direction given by the Council (whether before or after the coming into effect of the rules in question), the direction of the Council prevails.

8 There shall be paid to the members of the Council, Finance and General Purposes Committee and any other committee set up by the Council an allowance in respect of travelling and other reasonable expenses at such rates as may be fixed by extant government circulars.

9 The Council shall meet as and when necessary for the performance of its functions under this Act and shall meet at least three times in every year.

10 If requested in writing by five members of the Council the Chairman shall, within 28 days after the receipt of such request, call a meeting of the Council:
PROVIDED that, after 28 days of the receipt or delivery to him of such request, the Chairman fails or neglects to call a meeting, then the Registrar shall, within 14 days thereafter, cause a meeting of the Council to be conveyed for that purpose.

11 Any request made under subsection (10) shall specify the business to be considered at the meeting and a business not so specified shall not be transacted at the meeting.