Every employee or student of the University or of a College or Institution maintained by the University shall, notwithstanding anything contained in this Act, have a right to appeal within such time as may be prescribed by the Statutes, to the Board of Management against the decision of any officer or authority of the University or of the Principal of any College or Institution, as the case may be, and thereupon the Board of Management may confirm, modify or reverse the decision appealed against.