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(1) The Chancellor shall be appointed by the Founder Society from such persons with the prior concurrence of the Visitor who shall be a member of the founder Society; Provided that the Founder Society may also appoint Chancellor from person other than the member of the Founder Society. (2) The Chancellor shall have such powers as may be conferred on him by this Act or the Statutes made there under. (3) Chancellor shall preside the meetings of Board of Governors. The Vice- Chancellor