Section 2: Governing Council of the Institute

(1) The government of the Institute and the direction of its affairs shall vest in the Governing Council of the Institute (in this Act referred to as "the Council").
(2) Without prejudice to the generality of subsection (1) of this section and subject to this Act, it shall be the responsibility of the Council to consider and approve-
(a) the plan of activities and general policy of the Institute;
(b) the programme of studies, courses and research to be undertaken by the Institute;
(c) the annual estimates of the income and expenditure of the Institute; and
(d) the investment plans of the Institute.