(1) The first Statutes necessary for effective working of the University, with regard to all or any of the matters set out in section 39, may be made by the first Vice-Chancellor with the approval of the Chancellor.
(2) The Executive Council may make new or additional Statutes or amend or repeal the Statutes, from time to time, in the manner hereinafter provided.
(3) The Executive Council, if it thinks necessary, may also obtain the opinion of any other authority of the University in regard to any draft Statutes which is before it for consideration.
(4) Every Statute passed by the Executive Council shall be submitted to the Chancellor, who may give or withhold his assent thereto or refer it back to the Executive Council for reconsideration.
(5) No Statute passed by the Executive Council shall be valid or shall come into force until assented to by the Chancellor.
(6) Notwithstanding anything contained in the foregoing sub-sections, the Chancellor, either suo motu or on advice of the State Government, may, direct the University to make provisions in the Statutes in respect of any matter specified and if the Executive Council fails to implement such a direction within sixty days of its receipt, the Chancellor may, after considering the reasons, if any, communicated by the Executive Council for its inability to comply with such direction, make or amend the Statutes suitably.