(a) acts for and on behalf of the University in the exercise
of the University's functions, and
(b) has the control and management of the
affairs and concerns of the University, and
(c) may act in all matters
concerning the University in such manner as appears to the Senate to be best
calculated to promote the object and interests of the University.
(1B)
Without limiting the functions of the Senate under subsection (1A), the Senate
is, in controlling and managing the affairs and concerns of the University--
(a) to monitor the performance of the Vice-Chancellor, and
(c) to oversee the academic activities of the
University, and
(d) to approve the University's mission, strategic direction,
annual budget and business plan, and
(e) to oversee risk management and risk
assessment across the University (including, if necessary, taking reasonable
steps to obtain independent audit reports of entities in which the University
has an interest but which it does not control or with which it has entered
into a joint venture), and
(e1) without limiting paragraph (e), to enter into
or participate in arrangements or transactions, or combinations of
arrangements or transactions, to effect financial adjustments for the
management of financial risks, and
(f) to approve and monitor systems of
control and accountability for the University (including in relation to
controlled entities within the meaning of section 16A), and
(g) to approve
significant University commercial activities (within the meaning of
section 26A), and
(h) to establish policies and procedural principles for the
University consistent with legal requirements and community expectations, and
(i) to ensure that the University's grievance procedures, and information
concerning any rights of appeal or review conferred by or under any Act, are
published in a form that is readily accessible to the public, and
(j) to
regularly review its own performance (in light of its functions and
obligations imposed by or under this or any other Act), and
(k) to adopt a
statement of its primary responsibilities, and
(l) to make available for
Fellows a program of induction and of development relevant to their role as a
Fellow.
(1) Without limiting the functions of the Senate under subsection
(1A), the Senate may, for and on behalf of the University in the exercise of
the University's functions--
(a) provide such courses, and confer such degrees
(including ad eundem degrees and honorary degrees) and award such diplomas and
other certificates, as it thinks fit,
(b) appoint and terminate the
appointment of academic and other staff of the University,
(d) obtain
financial accommodation (including, without limitation, by the borrowing or
raising of money) and do all things necessary or convenient to be done in
connection with obtaining financial accommodation,
(e) invest any funds
belonging to or vested in the University,
(f) promote, establish or
participate in (whether by means of debt, equity, contribution of assets or by
other means) partnerships, trusts, companies and other incorporated bodies, or
joint ventures (whether or not incorporated),
(h) authorise any other
university or educational institution (whether in New South Wales or
elsewhere) to confer degrees, or to award diplomas or other certificates, on
behalf of the University,
(i) make loans and grants to students, and
(j)
impose fees, charges and fines.
(2) The functions of the Senate under this
section are to be exercised subject to the by-laws.
(3) Schedule 2 has effect
in relation to the investment of funds by the Senate.
