9 use or dispose of same, all with a view to advancing the aims of the University. To establish not-for-profit organizations, companies, trusts and foundations and participate therein with a view to advancing the University's aims. 4.12 To obtain loans and guarantee the repayment thereof, to purchase securities of any kind whatsoever and to invest the University's funds at the discretion of the University authorities, to provide and receive collaterals and liens of any kind whatsoever in order to safeguard such loans or investments as aforementioned. 4.13 To create and award scholarships and prizes for the advancement of learning, teaching and research and for other purposes, as determined by the University. 4.14 To supervise discipline among the University's students, academic staff and employees and to undertake disciplinary measures. 4.15 To cooperate with other institutions and authorities or with persons or groups of people, in such manner and for such purposes as defined from time to time by the University, subject to Paragraph 3 above. 4.16 To continue to exercise all the powers and rights of a corporation as stipulated in the Second Schedule to the Companies Ordinance (notwithstanding the rescission of the Companies Ordinance), for the purpose of achieving the University's aims, insofar as this does not conflict with the provisions of these Statutes or the General Regulations instituted by virtue thereof. 4.17 To engage in any other act for the advancement of the University's aims, including such acts as not included in the aforementioned. All of the powers specified above include also the power to revoke or alter a decision or impose conditions and restrictions. 5. Application of the University's Income and Assets The University shall not distribute profits and all income shall be designated exclusively for the achievement of its Aims, as defined in these Statutes.
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