(a) at its first meeting or as soon as practicable
thereafter, and
(b) whenever a vacancy in the office of Chancellor occurs,
elect a person (whether or not a member of the Council) to be Chancellor of
the University.
(2) The Chancellor, unless he or she sooner resigns or is
removed from office as Chancellor or ceases to be a member of the Council,
holds office for such period (not exceeding 4 years), and on such conditions,
as may be prescribed by the by-laws.
(3) The Chancellor has the functions
conferred or imposed on the Chancellor by or under this or any other Act.