(1) The Financial Management Act 1996
, part 6 (Borrowing and guarantees) applies in relation to the university as if section 45 (Loans to be paid into territory banking account) were omitted.
(2) The Financial Management Act 1996
, part 8 (Financial provisions for territory authorities) applies in relation to the university as if—
(a) a reference to the governing board of the university were a reference to the council; and
(b) a reference to the chair of the governing board were a reference to the chancellor; and
(c) a reference to the chief executive officer of the university were a reference to the vice-chancellor; and
(d) the part were modified as set out in schedule 1.
(3) The Financial Management Act 1996
, section 98 (Limitations on authorities forming corporations etc) and section 99 (Limitations on authorities taking part in joint ventures and trusts) apply in relation to the university as if those sections were modified as set out in schedule 2.
(4) The Financial Management Act 1996
, part 10 (Miscellaneous) applies in relation to the university as if section 130 (Act of grace payments) were omitted.