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Financial Regulations

Article

Corporate Governance

Section 3: Council

3.1 Financial Powers under the Statutes

The general financial powers of the Council are summarised by the Charter as:

"to govern and regulate the finances, accounts, investments, property, business, and all the financial affairs of the College and for these purposes to make appropriate arrangements for the appointment of bankers and other agents." (Statutes, 4(2).)

3.2 Statement of Primary Responsibilities

Council has general responsibility for the control of the College and the conduct of its affairs. It approves and publishes from time to time a Statement of Primary Responsibilities for itself, and delegates certain powers to committees, via their individual terms of reference and an approved schedule of financial authority limits.