Section 4 of the 1985 Act (Objects of College) is amended as follows—
(1) In subsection (1), after “the University,” insert “of the College and of any third party,” .
(2) For subsections (3) to (6) substitute—
(3) The College has the power to do anything which is calculated to further its objects or is conducive or incidental to doing so. In particular the College has the power to—
(a) award taught and research degrees and other academic awards and withdraw those degrees and awards;
(b) take such steps as are necessary or desirable to apply for and maintain university title for the College;
(c) acquire, own, maintain, manage and dispose of land and other property;
(d) solicit, receive, and administer fees, charges, grants, subscriptions, donations, endowments, legacies, gifts and loans of any property whatsoever, whether land or personal property, and any other sources of income;
(e) act as trustee for and in relation to endowments, legacies and gifts;
(f) invest any monies available for investment;
(g) give guarantees and indemnities;
(h) borrow and raise money and give securities for loans;
(i) take such steps as may from time to time be expedient for the purposes of procuring and receiving contributions to the funds of the College;
(j) co-operate and collaborate with other institutions and individuals, award joint degrees or other awards, and affiliate or incorporate into the College any other institution and take over its property, rights, liabilities and paid employees;
(k) acquire, merge with or enter into any joint partnership or joint venture arrangement with any other institution;
(l) establish subsidiary companies to carry on any trade;
(m) enter into agreements and accept obligations and liabilities;
(n) promote, encourage, carry out or commission research, surveys, studies or other work and disseminate the results of such work;
(o) publish and distribute books, pamphlets, reports, journals, films, software and instructional matter on any other media;
(p) employ and remunerate such staff as the Council may decide on such terms and conditions as the Council think fit; and
(q) promote and maintain superannuation and pension schemes and may grant pensions and allowances for pay compensation in lieu thereof to members and former members of staff of the College or of the existing colleges and their respective dependants.
(4) The College has the power to change its name, including to a name referring to the College as a university instead of as a college, subject to approval by the Privy Council.
(5) His Majesty may from time to time by Order in Council make such amendments to this Act as may be necessary to give effect to any change of name approved by the Privy Council under subsection (4) and an Order in Council under this section may be varied or revoked by a subsequent Order in Council under this section.