(1) An Ordinance made by the Syndicate under section 37 shall be submitted as soon as may be to the Senate, and there- upon it shall be the duty of the Senate to consider the Ordinance at its next meeting and the Senate may, by resolution passed by a majority of the members present and voting at such meeting, either reject the Ordinance or approve it with such modifications, if any, and from such date, as it may direct.
(2) Such an Ordinance approved by the Senate shall be submitted to the Chancellor who shall declare that he assents to the Ordinance.
(3) An Ordinance shall have no validity until it has been assented to by the Chancellor under sub-section (2).
(4) Notwithstanding anything contained in sub-sections (1), (2) and (3), if at any time, except when the Senate is in session, the Syndicate makes an Ordinance and considers its immediate enforcement necessary, the Syndicate may recommend to the Chancellor accordingly and the Chancellor shall thereupon, by order published in the official Gazette, direct that the Ordinance shall come into immediate effect, but such Ordinance shall cease to have effect on the expiry of seven days from the date of the next meeting of the Senate unless confirmed by it.