The sponsoring body shall have the following powers with reference to the University, each of which may be exercised by the Sponsoring Body at its discretion, namely:-(i)to appoint or re-appoint or terminate the appointment of the Chancellor;(ii)to constitute the first Board of Governors of the University;(iii)to nominate the chairperson of the Board of Governors;(iv)to nominate three persons as members of the Board of Governors;(v)to nominate two persons as members of the Board of Management;(vi)to determine the source of funds to be contributed to the University Endowment Fund;(vii)to determine the application and spending of moneys by the University;(viii)to resolve any conflict at the meeting of the Board of Governors in the manner provided for in this Act.
