(1) There are, within the University:
(a) an Institute of Advanced Studies constituted in accordance with section 19; and
(b) a group of faculties and other bodies determined by the Council, to be known as the "The Faculties".
(2) Nothing in this Act prevents the Council from establishing, within the University, for academic or administrative purposes, an organisational structure that:
(a) includes bodies, or members of staff, from the Institute and The Faculties; or
(b) in any other way draws its resources from the Institute and The Faculties.