Victoria University Act 2010

The University may submit to the Minister for approval guidelines for or with respect to—

the carrying out of university commercial activities;

auditing under this Part;

finance and property matters;

any other matter related to the exercise of any functions, powers or duties under this Part;

any combination of the matters referred to in paragraphs (a) to (d).

Without limiting the content of the guidelines, the guidelines may provide for or with respect to—

requirements for feasibility and due diligence assessment;

requirements for identifying appropriate governance and administrative arrangements, including legal structures and audit requirements;

requirements for undertaking risk assessment and risk management measures;

maintaining any register of university commercial activities or the publication of information relating to university commercial activities in annual reports;

regulating the delegation by the Council of any of its functions under this Act in connection with the University's commercial activities;

the rights and responsibilities of members of the Council in relation to commercialisation for the purposes of avoiding real or apparent conflicts of interest;

any other matters the Council considers appropriate.