Calendar: 1980-1981 Page 153

166 Charter and Statutes 30th September elect from among those of its Life and Appointed Members who are not otherwise in the employment of the College or of the University Chairman Vice-Chairman and Treasurer for the next following academic year and each of them shall hold office until the last meeting in the following year or until he ceases to be member of the Council whichever shall be the earlier Each of them shall be eligible for re-election to his office Functions of the Council The Council shall be responsible for ensuring that the objects of the College are fulfilled Without prejudice to the generality of the functions exercisable by the Council on behalf of the College those functions shall include the following- to be responsible for the management and use of all property revenues and grants now and hereafter allocated or made available for the fulfil- ment of the objects of the College to take over from the University the property and liabilities hitherto entrusted to vested in or incurred by the University by or in con- nection with the performance by the University of its functions in relation to University of London King's College to govern manage and regulate the finances accounts investments property business and all affairs whatsoever of the College and for these purposes to appoint bankers and any other officers or agents whom it deems expedient to appoint to solicit receive and administer in the interests of the College money or any property whatsoever real or personal to sanction the receipt or acceptance on its behalf of any money or property by any committee or society or other body created or incor- porated to raise funds for the College to give guarantees to building societies whether in pursuance of con- tinuing arrangements or not to subscribe to any charities and to grant donations for any charitable purpose consistent with the Charter to enter into arrangements with institutions or public bodies or industrial or commercial concerns with view to the advancement application and dissemination of knowledge subject to the conditions or provisions if any attached by the donor to any gift devise or bequest from which the same are derived to place on deposit or to invest moneys and funds of the College in such stocks funds fully-paid shares or securities and investments as the Council shall from time to time think fit whether within the United Kingdom of Great Britain and Northern Ireland or not including the purchase of land of any tenure or any interest therein in the said United Kingdom Provided that in the case of moneys and funds held by the College as trustees the powers conferred by this Statute shall be exercised subject to the provisions of the law relating to investment by trustees 10 to prescribe by Regulations conditions for the admission of students to the College