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Functions of Council

  1. Subject to these College rules or a resolution of the Voting Members carried at a general meeting, the Council -
    1. has the general control and management of the administration of the affairs, property and funds of the College;  and
    2. has authority to interpret the meaning of these rules and any matter relating to the College on which the rules are silent.
  2. The Council may exercise the powers of the College -
    1. to borrow, raise or secure the payment of amounts in a way the Council decides;
    2. to secure the amounts mentioned in paragraph (a) or the payment or performance of any debt, liability, contract, guarantee or other engagement incurred or to be entered into by the College in any way, including by the issue of debentures (perpetual or otherwise) charged upon the whole or part of the College’s property, both present and future;
    3. to purchase, redeem or pay off any securities issued;
    4. to borrow amounts from Members and pay interest on the amounts borrowed;
    5. to mortgage or charge the whole or part of its property;
    6. to issue debentures and other securities, whether outright or as security for any debt, liability or obligation of the College;
    7. ; to provide and pay off any securities issued; and
    8. to invest in a way the Council may from time to time decide.
  3. For sub-paragraph (2)(d), the rate of interest must not be more than the current rate being charged for overdrawn accounts on money lent (regardless of the term of the loan) by -
    1. the financial institution for the College; or
    2. if there is more than 1 financial institution for the College - the financial institution nominated by the College.