Council Regulations 20 of 2002

Made by Council on 26 June 2002

Amended on 27 July 2006, 8 June 2018 (Gazette, Vol.148, p.490, 24 May 2018) and 26 May 2021 (Gazette, Vol. 151, 336-337, 25 March 2021)

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1. If a Delegate appointed by Council has attended fewer than nine meetings of the Delegates in the course of any academic year, the Delegate's seat shall at the close of that year be declared by the Vice-Chancellor to be vacant and shall then immediately be vacated, subject to the following conditions:

(1) a person elected to fill a casual vacancy shall only be required to attend the same proportion of meetings held subsequent to the date of their election as nine bears to the total number of meetings held in the academic year, any fraction being reckoned to the nearest unit;

(2) the Delegates may waive the requirement in the case of a member absent from Oxford for a purpose approved by them.

2. The Finance Committee of the Delegates, established in accordance with section 17 of Statute VIII, shall consist of:

(1) a chair elected by the Delegates;

(2) the Vice-Chancellor;

(3) the Senior Proctor;

(4)-(7) four members elected by the Delegates from among the appointed Delegates;

(8)-(11) four persons possessing high qualifications in business or finance and appointed by Council after consultation with the Delegacy;

(12) the Secretary to the Delegates and Chief Executive;

(13) the Finance Director.

3. (1) The chair shall be elected either from among the appointed Delegates or from among persons who have previously served as a Delegate and who have recently served as a member of the Finance Committee.

(2) The chair and the four members elected from among the appointed Delegates shall hold office for a period not exceeding five years and, so long as they continue to be Delegates, shall be eligible for re-election for successive further periods not exceeding five years; save that a chair who is not elected from among the appointed Delegates shall serve in that capacity for only one period of five years.

(3) If any Delegate-member of the Finance Committee shall cease to be a Delegate, their membership of the committee shall immediately be terminated.

4. The members appointed by Council shall hold office for five years and shall be eligible for reappointment.

5. (1) The Delegates shall determine the emoluments and allowances to be paid by the Press to the Chair of the Finance Committee in respect of their tenure of that office.

(2) At the request of the Delegates, the Personnel Committee of Council may relieve the chair of such of their regular university duties, and on such terms, as it may determine.

6. (1) The Finance Committee shall submit the minutes of its meetings to the next meeting of the Delegates and shall keep the Delegates informed regarding matters dealt with or under consideration by the Finance Committee.

(2) The Finance Committee may set up such subcommittees as it may from time to time think fit, and such subcommittees may include persons who are not members of the Finance Committee.

7. (1) The annual accounts of the Delegates for the year ended 31 March shall be subject to the provisions of regulations 8-11 below.

(2) In addition, the Press shall submit to the Director of Finance of the University such financial information as is required to enable the University to include the Press in the audited consolidated income and expenditure account, balance sheets and related statements and notes set out in the Financial Statements of the University for the year ended 31 July.

8. (1) The annual accounts of the Delegates shall be audited according to instructions received from the Delegates by an auditor who shall be appointed annually by Council and shall be paid by the Delegates, and the auditor shall transmit to Council a certificate as to the correctness of the accounts.

(2) The annual accounts shall be presented to the Delegates by the Finance Committee at one of the Delegates' regular stated meetings specified for the purpose, and shall be accompanied by a report on the accounts submitted by the committee.

9. (1) The audited accounts of the Delegates, together with the Finance Committee's report and an abstract of the accounts, shall be submitted to Council under arrangements approved by Council.

(2) The Chair of the Finance Committee (or the Chair's deputy), the Secretary to the Delegates and Chief Executive (or the Chief Executive's deputy), and the Auditor of the Press Accounts shall make themselves available in person to supply, and shall supply, such further explanations of the accounts and of the report as may be required in accordance with arrangements prescribed under paragraph (1) above.

10. The abstract of the accounts and the auditor's certificate provided for in regulations 8 (1) and 9 (1) above shall be published in the University Gazette as part of the report referred to in regulation 11 below.

11. The Delegates shall submit to Council annually a report on the general state and activities of the Press which shall, subject to the authorisation of Council, be published in the University Gazette.

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