(1) The Chancellor of a corresponding University may cause an inspection to be made by such person as he may direct, of the corresponding University, its buildings, laboratories, and equipment and of any institution maintained by that University, and may cause an inquiry to be made in respect of any matter connected with the administration and the finances of that University.
(2) The Chancellor of a corresponding University shall, in every case, give notice to the University of his intention to cause an inspection or inquiry to be made, and, on receipt of such notice, that University shall be entitled to appoint a representative who shall have the right to be present, and heard, at such inspection or inquiry.
(3) The Chancellor of a corresponding University may address the Board of the University with reference to the result of such inspection or inquiry with such advice as he may offer regarding the action to be taken.
(4) The Board shall communicate to the Chancellor such action as it proposes to take or has taken as the result of such inspection or inquiry.
(5) If the Board does not, within a reasonable time, take action to the satisfaction of the Chancellor, he may, after considering any explanation furnished or representation made by the Board, issue such directions as he may deem fit, and the Board shall comply with such directions.