(1) Subject to the provisions of this Act and the rules made thereunder, the subsequent statutes of the University may provide for all or any of the following matters, namely:—
(a) creation of new authorities of the University;
(b) accounting policy and financial procedure;
(c) representation of teachers in the authorities of the University;
(d) creation of new departments and abolition or restructuring of existing department;
(e) institution of medals and prizes;
(f) creation of posts and procedure for abolition of posts;
(g) revision of fees;
(h) alteration of the number of seats in different syllabi; and
(i) all other matters which under the provisions of this Act are to be specified by the statutes.
(2) The statutes of the University other than the first statutes shall be made by the Board of Management with the approval of the Governing Body.
(3) The Board of Management may, from time to time, make new or additional statutes or may amend or repeal the statutes so made in the manner hereinafter provided in this section:
Provided that Board of Management shall not make any statute or any amendment of the statute affecting the status, powers or constitution of any existing authority of the University until such authority has been given an opportunity of expressing an opinion on the proposal and any opinion so expressed shall be in writing and shall be considered by the Governing Body.
(4) Every such statute or addition to the statutes or any amendment or repeal of the statutes shall be subject to the approval of the Government:
Provided that no statute shall be made by the Board of Management affecting the discipline of students and standards of instruction, education and examination, except in consultation with the Academic Council.