Transitory provisions

Notwithstanding anything contained in this Act, the Statutes, Ordinances and Regulations, the Chancellor, may subject to the availability of the funds, discharge all or any of the functions of the University for the purpose of carrying out the provisions of this Act, the Statutes, Ordinances and the Regulations, and for that purpose, may exercise such powers and perform such duties, which by this Act, the Statutes, Ordinances and Regulations are to be exercised or performed by any authority or officer of the University, until such authority comes into existence or officer is appointed.