(1) New or additional statutes may be made or added or the existing statutes may be amended or cancelled by the Executive Council from time to time in the manner hereinafter appearing.
(2) Any member of the Executive Council, may propose the draft of a statute to the Executive Council and the Executive Council may either approve the draft or amend or modify it completely or partially and shall refer the accepted, rejected, amended or, as the case may be, modified draft to the Chancellor for approval.
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(3) The Executive Council, on any draft of the statute affecting the status, power or constitution of any existing authority of the University, may not consider without giving to the authority an opportunity to express its or his opinion on the said proposal. Any such opinion shall be in writing which the Executive Council shall consider and refer alongwith its decision on the draft of the statute to the Chancellor for his approval.
(4) The Chancellor may either return the draft statutes to Executive Council for reconsideration or, as the case may be, approve the draft statutes passed by the Executive Council.
(5) The statutes passed by the Executive Council shall be valid subject to the approval of the Chancellor.