1. It shall be the duty of the Council,
- (a)to exercise general supervision over the Chest and over the finances of all institutions in the University other than the University Press;
- (b)to keep under review the University's financial position and to make a Report thereon to the University at least once in each
year, recommending allocations from the Chest;
- (c)to recommend Bankers for appointment by Grace as bankers to the University;
- (d)to prepare and to publish the annual accounts of the University in accordance with UK applicable accounting standards such
that the accounts give a true and fair view of the state of affairs of the University;
- (e)to perform such other duties relating to financial management as may be assigned to it by Statute or Ordinance.
2. The Council shall be responsible for the care, management, and maintenance of all property, both real and personal, which
is either owned by the University or held in trust for University purposes, except such as may be committed by Statute or
Ordinance to the care and management of some other University body. Approval by Grace of the Regent House shall be required
for the erection of a new University building or for the demolition or substantial alteration of an existing University building.