10. Functions and powers of the Council (1) The Council shall be the governing body of the University and shall be responsible for the management and administration of the University and of its property and revenues, and, shall exercise general control and supervision over all the affairs of the University including its relations with the public, and, without prejudice to the generality of the foregoing, the functions, and powers of the Council shall include the following— (a) to govern, maintain, administer, dispose of and, save as hereinafter provided, to invest all the property, money, assets, and rights of the University , to manage the business and all other affairs whatsoever of the University , and to enter into engagements and to accept obligations and liabilities without any restriction whatsoever, in the same manner in all respects as an individual may manage his own affairs: Provided that, before determining any question relating to the matters aforesaid which affects the academic policy of the University , the Council shall refer such matters to the Senate if it has not previously been considered by the Senate , and shall take into consideration any recommendation or report thereon by the Senate ; (b) to determine, demand and receive fees, subscriptions, deposits, fines and such other payments, and to effect payment of any money obligation; (c) to take such steps as it thinks fit for the purpose of procuring and receiving contributions to the funds of the University to further the objects of the University , and, for this purpose, to raise money in such manner as it thinks fit; (d) to borrow money on behalf of the University and for that purpose, if it thinks fit, to mortgage or charge all or any part of the real property of the University , unless the conditions of any will, deed or gift or other similar instrument are thereby contravened, and to give such other security, whether upon real or personal property or otherwise, as it thinks fit; (e) to invest any moneys of the University , including any unapplied income, in such stocks, debentures, funds, shares, or other securities as the Council may from time to time determine, whether within Malawi or not, or in the purchase of real or personal property, with the like power of varying such investments from time to time by sale or re-investment or otherwise; (f) to sell, buy, exchange, lease, rent, grant or take on lease or rent, real or personal property or portions thereof on behalf of the University , and to acquire any easement over any property held by other persons or to consent to any easement whether public or private over any property of the University ; (g) to undertake and execute any trust the undertaking whereof may seem desirable to the Council for the attainment or fulfilment of any of the objects of the University , and to hold, invest, manage or distribute, in furtherance of and in accordance with any such trust direction, discretion, obligation or permission, any property, or the income of any property, held by it as trustee subject to such trust; (h) to enter into, vary, carry out or cancel contracts on behalf of the University , to compound or compromise any action, suit or proceedings or any debt or claim, and to refer any matter to arbitration; (i) to operate bank accounts, and to cause proper books of account to be kept and audited for all sums of money received and expended by the University and for the assets and liabilities of the University so that the books give a true and fair view of the state of the University ’s affairs, and explain its transactions; (j) after consultation with the Senate , to establish, institute or discontinue Faculties, Centres, Institutes or such other academic sections of the University , in accordance with this Act; (k) after consultation with the Senate , to determine terms of service and general conditions relating to the employment of academic staff, and to establish, disestablish or otherwise make or discontinue financial provision for appointments to such posts; (l) after consideration of any recommendation or report thereon from the Vice-Chancellor , to determine the terms of service and general conditions, relating to the employment of administrative, clerical, technical and support staff, and to establish, disestablish, or otherwise make or discontinue financial provision for appointments to such posts; (m) to determine the salary scales and general rates of payment for all categories of staff appointed by the University and for other persons commissioned to give services to the University , and to appoint and employ such persons, pay their salaries, wages or fees, and subject to the provisions of the Statutes terminate their appointments; (n) to make provisions, so far as it thinks fit, for schemes of insurance, superannuation, pensions or retirement benefits for persons in the employment of the University and the spouses and dependents of such persons, to subscribe to benevolent and other such funds for the benefit of such persons, and to make such payments as it thinks fit to such persons; (o) to take such steps as it thinks fit for furthering the objects and interests of the University by making provision for teaching and research, for the printing and publication of research and other works which may be issued by the University , and for the welfare of the staff and the students of the University ; (p) to call for reports from the Vice-Chancellor or the Senate , and to review the work of the University in the light of such reports; (q) to make provision for payments to external examiners and to such other persons to whom it thinks fit to make payments to further the objects of the University , and for scholarships, prizes, grants and such other payments to students of the University ; (r) after consideration of any recommendation or report thereon from the Senate , to determine fees to be charged to students; (s) to determine to whom the award of Honorary Degrees of the University shall be made in accordance with the procedure prescribed therefore by the Statutes ; (t) to decide, after consultation with the Vice-Chancellor , whether or not any donation, gift, grant, devise, bequest or other bounty to the University should be accepted; (u) to enter into agreements and other relationships with other institutions or bodies, whether academic or otherwise, for such purposes as the Council may determine, including the embodiment within the University of any other institution or body and the taking over and assumption of the property, rights, privileges and liabilities of such other institution or body. (2) The Council shall consider any recommendation made by the Senate for the amendment or alteration of Statutes relating to the academic administration of the University and for taking any other action in respect of academic matters, and shall either accept, refer back or reject any such recommendation: Provided that it may not be rejected unless the Senate has previously been informed of the Council ’s reasons for wishing to reject it and has been given an opportunity to comment thereon to the Council .