(1) The first statutes are those set out in the Second Schedule.
(2) The Board of management may, from time to time, make new or additional statutes or may amend or repeal the statutes referred to in sub-section (1):
Provided that the Board of Management shall not make, amend or repeal any statutes affecting status, powers or constitution of any authority of the University until such authority has been given a reasonable opportunity to express its opinion in writing on the proposed changes and any opinion so expressed has been considered by the Board of Management.
(3) Every new statute or addition to the statutes or any amendment or repeal thereof shall require the approval of the Chancellor, who may assent thereto or withhold assent or remit to the Board of Management for reconsideration in the light of the observation, if any, made by him.
(4) A new Statute or a Statute amending or repealing an existing statute shall not be valid unless it has been assented to by the Chancellor.
(5) Not withstanding anything contained in the foregoing sub-sections, the Chancellor may make new or additional statutes or amend or repeal the Statutes referred to in sub-section (1) during the period of three years immediately after the commencement of this Act.
(6) Notwithstanding anything contained in the foregoing sub-section, the Chancellor may direct the University to make provisions in the statutes in respect of any matter specified by him and if the Board of Management is unable to implement such a direction within sixty days of its receipt the Chancellor may, after considering the reasons, if any, communicated by the Board of Management for its inability to comply with such direction, make or amend the Statutes suitably.