Article 6 Financial arrangements

Subject to any conditions which may be imposed on the University Court as conditions of payment of grant to it, the University Court shall make such arrangements as it thinks fit for the conduct of the financial affairs of the University.

The University Court may receive donations, legacies, annuities, subscriptions and other gifts for furtherance of the objects of the University provided such donations, legacies, annuities, subscriptions and other gifts shall be applied in accordance with the directions of the respective testators or donors; in the absence of any specific direction relating thereto the University Court shall be empowered to determine the manner in which any such donation, legacy, annuity, subscription or other gift in whole or in part shall be used to further the objects of the University.

The University Court may receive and expend recurrent and capital funds, lend money (with or without security), borrow or raise money, guarantee and give security for the payment of money by the University, the University Court, or any other person, firm, company or body corporate (including any such person or entity associated with the University or University Court) and in exercising this power the University Court shall cause accounts to be kept of income and expenditure and shall appoint auditors annually to audit same.

The University Court may levy and receive fees for all services, including the provision of courses (whether or not leading to a degree or other academic distinction).

The University Court may pay to any of its members such financial loss allowances and travelling and subsistence allowances as it thinks appropriate.

The University Court shall make provision for the remuneration of staff appointed in accordance with article 22 and article 23.

The University Court may make provisions for the superannuation of staff and the provision of benefits to them, their spouses, their dependants and others.