(1) Subject to the provisions of this Act, the Governing Council, under overall control of the Central Government, shall be responsible for the general superintendence, direction and control of the affairs of the Institute and shall exercise all the powers not otherwise provided for by this Act, the Statutes and the Ordinances, and shall have the power to review the acts of the Senate.
     (2) Without prejudice to the provisions of sub-section (1), the Governing Council shall—
         (a) take decisions on questions of policy relating to the administration and working of the Institute;
         (b) institute academic and other posts and to make appointments thereto (except in the case of the Managing Director, Secretary and Executive Director);
         (c) frame the Statutes and the Ordinances and to alter, modify or rescind the same;
         (d) consider and pass resolutions on the annual report, the annual audited accounts and the budget estimates of the Institute for the next financial year as it thinks fit together with a statement of its development plans;
         (e) receive gifts, grants, donations or benefactions from the Government and to receive bequests, donations and transfers of movable or immovable properties from the testators, donors or transferors, as the case may be; and
         (f) do all such things as may be necessary, incidental or conducive to the attainment of all or any of the aforesaid powers.
     (3) The Governing Council shall have the power to appoint such committees, as it considers necessary for the exercise of its powers and the performance of its duties under this Act.
     (4) Notwithstanding anything contained in sub-section (2) of section 4, the Governing Council shall not dispose of in any manner any immovable property without the prior approval of the Central Government.
     (5) The Central Government may appoint one or more persons to review the work and progress of the Institute and to hold inquiries into the affairs thereof and to report thereon in such manner as the Central Government may direct.
     (6) Upon receipt of any such report, the Central Government may take such action and issue such directions as it considers necessary in respect of any of the matters dealt within the report and the Institute shall be bound to comply with such directions.
     (7) The Central Government shall have the power to remove Chairperson or other Members or reconstitute the Governing Council, if it considers it appropriate to do so.
     (8) No Chairperson or Member shall be removed under sub-section (7) unless he has been given a reasonable opportunity of being heard in the matter.