Higher Education Authority Act 2022
Amendment of section 7 of Act of 1992 | ||
111. Section 7 of the Act of 1992 is amended— | ||
(a) by the insertion of the following subsections after subsection (1): | ||
“(1A) The governing body of a college shall— | ||
(a) promote the success (including academic success) and reputation of the college, | ||
(b) satisfy itself that appropriate systems, procedures and practices are in place— | ||
(i) for the internal performance management and accountability of the college in respect of— | ||
(I) the performance of its functions, and | ||
(II) the achievement of the aims in the strategic development plan under section 21C, | ||
and | ||
(ii) in order to implement, and report on compliance with, the policies (whether set out in codes, guidelines or other documents, or any combination thereof) of the Government or a Minister of the Government to the extent that those policies may affect or relate to the functions of the college, | ||
and | ||
(c) establish and implement arrangements for the management of the performance of the Director. | ||
(1B) Without prejudice to the generality of subsections (1) and (1A), the governing body of a college shall perform the following functions with regard to the college: | ||
(a) approve expenditure for major capital and investment projects; | ||
(b) approve annual financial statements; | ||
(c) provide for and maintain a system of audit; | ||
(d) provide for and maintain a system of risk management; | ||
(e) provide for and maintain a system of quality assurance in accordance with the Qualifications and Quality Assurance (Education and Training) Act 2012 ; | ||
(f) review and oversee the implementation of major plans of action and provide strategic direction; | ||
(g) delegate such functions as may be appropriate to the Director; | ||
(h) manage the financial affairs of the college to ensure value for money and its financial viability; | ||
(i) account to An tÚdarás for funding provided to the college by An tÚdarás.”, | ||
and | ||
(b) in subsection (6), by the substitution of “a committee of the governing body established under paragraph 6 of the Second Schedule” for “a committee”. |