11. (1) A technological university shall have a governing body to perform the functions of the technological university under this Act.

F6[(1A) A governing body of a technological university shall—

(a) promote the success (including academic success) and reputation of the technological university,

(b) satisfy itself that appropriate systems, procedures and practices are in place—

(i) to perform the functions of the technological university,

(ii) for the internal performance management and accountability of the technological university in respect of—

(I) the performance of its functions, and

(II) the achievement of the objectives in the strategic development plan under section 18,

and

(iii) in order to implement, and report on compliance with, the policies (whether set out in codes, guidelines or other documents, or any combination thereof) of the Government or a Minister of the Government to the extent that those policies may affect or relate to the functions of the technological university, and

(c) establish and implement arrangements for the management of the performance of the president.

(1B) Without prejudice to the generality of subsections (1) and (1A), the governing body of a technological university shall perform the following functions with regard to the technological university:

(a) approve expenditure for major capital and investment projects;

(b) approve annual financial statements;

(c) provide for and maintain a system of audit;

(d) provide for and maintain a system of risk management;

(e) provide for and maintain a system of quality assurance in accordance with the Act of 2012;

(f) review and oversee the implementation of major plans of action and provide strategic direction;

(g) delegate such functions as may be appropriate to the president;

(h) manage the financial affairs of the technological university to ensure value for money and its financial viability;

(i) account to An tÚdarás for funding provided to the technological university by An tÚdarás.]

(2) The provisions of Schedule 1 shall apply to a governing body.