(1) The Board of Management shall for carrying out the purposes of the Act shall make Statutes:
Provided that the Board of Management shall not make, amend or repeal any Statutes affecting the status, powers or constitution of any authority of the University until such authority has been given a reasonable opportunity of expressing its opinion in writing on the proposed changes and any opinion so expressed within the time specified by the Board of Management, has been considered by the Board of Management.
(2) Every Statute shall require the approval of the Chancellor, who may assent or withhold his/her assent or remit it to the Board of Management for reconsideration in the light of the observations made by him/her.
(3) A new Statute or a Statute amending or repealing an existing Statute shall not be valid unless it has received the assent of the Chancellor:
Provided that if the Chancellor does not convey his decision within ninety days of the reference received by him/her, then the matter shall be directly referred to the Senate.
(4) A Statute made by the Board of Management shall have effect from the date it is assented to by the Chancellor or from such later date as may be specified by him/her or by the Senate.