(1) The Academic Council shall be the principal academic body of the University and shall, subject to the provisions of this Act, the Statutes and the Ordinances, co-ordinate and exercise general supervision over the academic policies of the University.
     (2) The constitution of the Academic Council, the term of office of its members and its powers and functions shall be prescribed by the Statutes:
     Provided that such number of members as may be prescribed by the Statutes shall be from among the elected members of the Court who are teachers of the University.