22Functions of Board

22 Functions of Board

22 Functions of Board

(1A) The Board—

(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 Board to be best calculated to promote the object and interests of the University.

(1B) Without limiting the functions of the Board under subsection (1A), the Board 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 22A), and

(g) to approve significant University commercial activities (within the meaning of section 32A), 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