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82

Properties to be Tested in the recon gtituted bodies.

Of what University consists.

Constitution of Senate.

Retirement.

Vacancies.

Any properties, real or personal, of which the bodies as constituted' under the Acts or Ordinances hereby repealed are seised at the time of this Act coming into operation, shall be the properties of the University and of the Otago and Canterbury University Colleges respectively,, as constituted under this Act: Provided, further, that it shall not be lawful for these bodies to alienate, mortgage, charge, or demise any lands, tenements, or hereditaments of which they shall have become seised, or to which they may become entitled by grant, purchase, or otherwise, unless under the provisions of " The Canterbury Educational Reserves Sale and Leasing Act, 1876," or with the approval of the Governor in Council for the time being, except by way of lease for any term not exceeding twenty-one years for rural land, and sixty years for building land, from the time when such lease shall be made; and on and by such lease there shall be the highest rent reserved that can be reasonably obtained for the lands, tenements, and hereditaments expressed to be thereby demised without fine. NEW ZEALAND UNIVERSITY. 8. The University of New Zealand shall hereafter consist of a Chancellor, a Vice-Chancellor, Eellows, and Graduates. The persons who immediately before the coming into operation of this Act were the members of the Senate of the University shall, on the day appointed under this Act for the first meeting of the reconstituted Senate, cease to be members of the Senate, but shall, in the meantime and afterwards, be eligible for appointment or election as members of the Senate, as the said Senate is reconstituted under this Act; and the Chancellor and Vice-Chancellor, whether so appointed or elected Eellows, or not so appointed or elected, shall hold their respective offices of Chancellor and Vice-Chancellor until their successors in those offices are appointed. The graduates shall be the persons on whom the University has conferred or shall hereafter confer degrees. 9. The governing body of the University shall be styled the Senate, and shall consist of the Eellows, of whom six shall be appointed by the Governor in Council, and three shall be elected by the Council of each University College, and the said Eellows shall, at their first meeting, and whenever a vacancy shall occur in the office of Chancellor or Vice-Chancellor, either by death, resignation, or expiration of tenure or otherwise, elect out of their own number a Chancellor or Vice-Chancellor, as the case may be, to hold office for such period respectively not extending beyond the term of their fellowships as the Senate shall previously fix and determine. 10. Two of the Eellows appointed by the Governor in Council, and one of the Eellows elected by each University College Council, shall retire on the thirty-first day of December in each year, beginning with the year one thousand eight hundred and eighty, and shall be eligible for reappointment or re-election. The Senate at its first meeting shall determine by lot the order in which the Eellows first appointed or elected shall retire, and all Eellows appointed or elected after such meeting shall hold office for three years, and retire by turn according to seniority, and be eligible for reappointment or re-election : Provided that, if any Eellow retire before the expiration of the term of his fellowship, the Eellow appointed or elected to succeed him shall retire at the expiration of such term. 11. Any vacancy which shall occur in the Senate by death, resignation, or otherwise shall be filled up by the Governor in Council making a fresh appointment if the vacancy occur among the Eellows appointed by him, and if the vacancy occur among the members elected by the Council of one of the University Colleges it shall be filled up by the Council of that College making a fresh election.