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(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 fait statement of the financial trapsactions and position of the University: (e) to cause the accounts of the University to be audited within six months after the termination of such financial year as the Copecil may determine and to be submitted with a copy of the auditor's report thereon to the Government of Hong Kong:
(f) to receive annually from the Vice-Chancellor and to approve, after report from the Senate, estimates of expenditure required to carry out the central activities of the University as defined in Statule 24; (g) to receive annually from the Board of Governors of each College the estimates of expenditure required to carry out the work of that College and approve these estimates with such amendments as the Council deems necessary after consultation with the Academic Planning Com- mitter:
(4) to authorize capital expenditure upon the provision of buildings, libraries, laboratories, premises, furniture, apparatus and other equip- ment needed for carrying on the central activities of the Daiversity as defined in Statute 24;
()) to receive from the Boards of Governors of the several College: esdmates of the capital funds required to enable the Colleges to provide buildings, libraries, laboratories, premises, furniture, apparatus and othe equipment needed for carrying out the work of the Colleges and University, and to approve the same with much amendments as the Council deems necessary;
(in consultation with the Senate to encourage and provide for research
by members of the University;
(*) to receive reports from the Senate and to review the instruction and teaching in courses of study leading to degrees, diplomas, certificates and other awards of the University,
(♫ after consultation with the Senate, to institute professorships, reader- ships and senior lectureships and, with the consent of the Board of Governors of the College concerned, to assign thereto any such professorship, readership or senior lectureship:
(m) to establish Boards of Advisers and to appoiat external experts thereto
on the recommendation of the Senate;
(n) to appoint on such terms and conditions as the Council may determine each professor, reader and senior lecturer and the Librarian and the Registrar on the recommendation of duly constituted Boards of Advisers;
(e) to make, on such terms and conditions as the Council may determine. such other University appointments as the Council deems necessary, (p) on the recommendation of the Senate to designate an Appointed Teacher
in each subject as Director of University Studies in that subject; (4) to appoint external examiners on the recommendation of the Senate; () to provide for the printing and publication of works which may be
issued by the University; and
(1) to consider reports from the Senate, and if the Council deems it proper
to do so, to take action thereon.
6. The Council shall meet at least three times in each academic year and additionally on the written request of the Chairman of the Council or the Vice-Chancellor or any five members of the Council.
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7. Seven days' notice in writing of any meeting of the Council shall be sent by the Registrar to each person entitled to receive notice of the meeting with the agenda thereof, and no business not included in the agenda shall be transacted if the Chairman or any two members present object
8. The Council may make for the proper conduct of its business Standing Orders which it may amend or rescind by simple majority at any of its meetings provided that not less than seven days' notice has been given in writing by the Registrar to members of the Council of the proposal so to amend or rescind.
9. The quorum at any meeting of the Council shall be tea.
STATUTE 10.
Financial Procedure,
1. The Council shall fix the Boancial year.
2. The Council shall appoint a Finance Committee, to which persons who are not members of the Council may be appointed, and all matters within the jurisdiction of the Council which have important financial implications shall stand referred to the Finance Committee.
3. The Finance Committee shall submit to the Council, before the beginning of the financial year, draft estimates of income and expenditure, and such estimates, amended as the Council may think ɓt, shall be approved by the Council before the beginning of the financial year.
4. The Council may revise the estimates during the course of the financial
year.
5. The estimates shall show the income and expenditure of Ge Daiversity and the estimated surplus or deficit for the year. The estimated expendi- ture shall be shown under votes, heads and sub-heads. Any variation of the amount of any vote, head or sub-head shall require the sanction of the Council. Any transfer between votes shall require the sanction of the Council. Any transfer between heads shall require the sanction of the Finance Committee. Any transfer between sub-heads shall require the sanction of the Vice-Chancellor and the Treasurer.
6. As soon as practicable after the end of the financial year, a balance sheet and income and expenditure account with supporting schedules shall be submitted to the auditors.
7. The audited accounts, with any comments thereon made by the auditors.
shall be submitted to the Council.
*. Nothing in this Statute shall deprive the Council of power to invest
surpluses or prospective surpluses at any time.
STATUTE 11.
The Senare.
1. Members of the Scuate whose membership derives from the provisions of paragraphs (a), (b), (c), (d), (e) and (g) of section 16 of the Ordinance shall remain members of the Scoate for so long as they hold the office or appointment by reason of which they became members of the Senate,
2. Elected members shall hold office for three years from the date of their election and shall be eligible for re-election provided that they shall crase to be members of the Senate if they cease to be Readers, Senior Lecturers or Recognized Lecturers within the College by whose members they were elected or if they become Directors of University Studies. Should an