(1) For the purpose of enacting a statute under this Act, a draft of the statute shall be circulated to the members of the Council at least fourteen days before the date of the meeting at which the statute is to be considered.

(2) The Council shall, on the appointed date or any other date, consider the draft statute and may approve the draft provisionally either with or without amendment of which written notice has been circulated to the members at least three days before the date of the meeting.

(3) The statute as provisionally approved, shall be circulated to the members of the Council and where in the opinion of the Council it affects academic matters, to the Academic Board as well, at least seven days before the meeting at which it is intended to confirm the statute.

(4) Within a period of not less than one month and not more than six months from the date of the meeting at which the statute was provisionally approved, the Council shall hold a meeting and confirm the statute without amendment.

(5) No statute shall be enacted which is inconsistent with this Act.