(1)  The Vice-Chancellor shall be the ex officio Chairperson of the Research and Development Council, which shall be the principal body of the University for undertaking and promoting research and development activities in all sectors relating to co-operatives and shall, subject to the provisions of this Act, the Statutes and the Ordinances made thereunder, co-ordinate and exercise general supervision over the matters relating to research and development.

   (2) The constitution of the Research and Development Council, the term of office of its members and its powers and functions shall be such as may be provided by the Ordinances.