(1) The First Statutes of the university shall be made by the Governing Body and shall be submitted to the Government for its approval.
(2) Subject to the provisions of this Act, and the rules made thereunder, the First Statutes of the university may provide for all or any of the following matters, namely:-
(a) the constitution, powers and functions of the authorities and other bodies of the university as may be constituted, from time to time;
(b) the terms and conditions of appointment of the Vice-Chancellor and his powers and functions;
(c) the manner of appointment and terms and conditions of service of the Deans of Faculties, Registrar and Chief Finance and Accounts Officer and their powers and functions;
(d) the manner of appointment and terms and conditions of service of the employees and their powers and functions;
(e) the procedure for arbitration in case of disputes between employees, students and the university;
(f) the conferment of honorary degrees;
(g) the provisions regarding exemption of students from payment of tuition fee and for awarding scholarships and fellowships to them;
(h) provisions regarding the policy of admissions and number of seats in different courses including regulation of reservation of seats; and
(i) provisions regarding fees to be charged from the students.
(3) The Government shall consider the First Statutes, submitted by the university and shall within four months from the date of its receipt give its approval thereon with such modifications, if any, as it may deem necessary.