(1) The council may make statutes for the regulation or control of traffic (a traffic statute ) on land occupied by the university in the ACT, including—
(a) the parking, stopping, standing or leaving of vehicles; and
(b) the erection and effect of signs and markings.
(2) A traffic statute may create offences for contraventions of a traffic statute and prescribe maximum penalties of not more than 2 penalty units for the offences.
(3) A traffic statute must not be inconsistent with another territory law.
(4) However, a traffic statute must not be treated as being inconsistent with another territory law only because it makes provision in relation to a matter dealt with by the other territory law if the provision can be complied with without contravening the other law.