Bulletin Supplement Nov 1965

5. Subject to the provisions of the Ordinance and the Statutes and w i t hout derogating f r om the generality of its power, it is specifically prescribed— (1) that the Council shall have the p owe r— (a) to make Statutes, provided that no Statute shall be made u n t il the Senate of the University and the Board of Governors of each College shall have had an opportunity of reporting thereon to the Coun c i l; ( b) to make decrees for any purpose for wh i ch decrees or may be authorized to be made, provided that no decree shall be made u n t il the Senate of the University and the Board of Governors of each College shall have had an opportunity of reporting thereon to the Coun c i l; (c) to invest any money belonging to the Un i v e r s i t y; ( d) to bo r r ow money on behalf of the Un i v e r s i t y; (e) to call, buy , exchange, lease or accept leases of any real or personal property on behalf of the Un i v e r s i t y; ( f ) to enter into, vary, perform and cancel contracts on behalf of the Un i v e r s i t y; (a) to require the Board of Governors of each College annually to submit in such f o rm and at such time as the Council may determine estimates of the expenditure necessary to carry out the work of that College; (h) to require the Board of Governors of each College annually to produce its audited accounts in such f o rm and at such time as the Council may determine; ( i) to receive f r om public sources grants for capital and re-current expenditure; (j) to receive gifts; (k) to make grants to the Boards of Governors of the several Colleges for capital and re-current expenditure; (l) to provide for the welfare of persons employed by the University as distinct f r om the Colleges and the wives, widows and dependants of such persons, including the payment of money, pensions, or other payments and to subscribe to benevolent and other funds for the benefit of such persons; (m) to provide for the discipline and welfare of students; (n) to recommend the award of degrees honoris causa; (o) after report f r om the Senate to establish additional Faculties or to abolish, combine or subdivide any Faculty; (p) w i th the consent of the Senate and the Board of Governors of the College in wh i ch the appointment is tenable to abolish or hold in abeyance any professorship, readership or senior lectureship; (q) to prescribe fees of the University. (2) that it shall be the duty of the Coun c i l— (a) to elect a Treasurer and to determine his duties; (b) to appoint bankers, auditors and any other agents w h om it seems experient to appoint; (c) to appoint an Administrative and Academic-Planning Committee, consisting of the Vice-Chancellor and the Presidents of the several Colleges; ( d) to cause proper books of account to be kept for all sums of money received and expended by the University and for the assets and liabilities of the University so that such books give a true and fair statement of financial transactions and position of the Un i v e r s i t y; (e) to cause the accounts of the University to be audited w i t h in six months after the termination of such financial year as the Council may determine and to be submitted w i th a copy of the auditor's report thereon to the Government of H o ng K o n g; ( f ) to receive annually f r om the Vice-Chancellor and to approve, after report f r om the Senate, estimates of expenditure required to carry out the central activities of the University as defined in Statute 25; (g) to receive annually f r om the Board of Governors of each College the estimates of expenditure required to carry out the wo rk of that College and approve these estimates w i th such amendments as the Council deems necessary after consultation w i t h the Administrative and Academic-Planning Committee; 10