3.—(1) The Corporation shall be responsible for the following functions—
(a)the determination of the educational character and mission of the institution and for the oversight of its activities;
(b)the effective and efficient use of resources, the solvency of the institution and the Corporation and for safeguarding their assets;
(c)approving annual estimates of income and expenditure;
(d)the appointment, grading, suspension, dismissal and determination of the pay and conditions of service of the holders of senior posts and the clerk (including, where the clerk is, or is to be appointed as, a member of staff, his appointment, grading, suspension, dismissal and determination of pay in his capacity as member of staff);
(e)setting a framework for the pay and conditions of service of all other staff.
(2) Subject to the responsibilities of the Corporation, the Principal shall be the Chief Executive of the institution, and shall be responsible for the following functions—
(a)making proposals to the Corporation about the educational character and mission of the institution, and for implementing the decisions of the Corporation;
(b)the organisation, direction and management of the institution and leadership of the staff;
(c)the appointment, assignment, grading, appraisal, suspension, dismissal, and determination, within the framework set by the Corporation, of the pay and conditions of service of staff other than the holders of senior posts or the Clerk where he is also a member of the staff;
(d)the determination, after consultation with the Academic Board, of the institution’s academic activities, and the determination of its other activities;
(e)preparing annual estimates of income and expenditure for consideration and approval by the Corporation, and the management of budget and resources within the estimates approved by the Corporation;
(f)maintaining student discipline and, within the rules and procedures provided for within these Articles, suspending or expelling students on disciplinary grounds, and implementing decisions to expel students for academic reasons.
(3) Subject to—
(a)the provisions of these Articles;
(b)the overall responsibility of the Corporation; and
(c)the responsibilities of the Principal,
the Academic Board shall be responsible for advising the Principal on the standards, planning, co-ordination, development and oversight of the academic work of the institution, including arrangements for the admission, assessment and examination of students and the procedures for the expulsion of students for academic reasons.