The Syndicate shall be the executive body of the Institute and shall, subject to the provisions of this Act and the Statutes, exercise general supervision over the affairs and management of the Institute. Without prejudice to the generality of the foregoing powers, and subject to the provisions of this Act the Statutes and the directions of the Senate, the Syndicate shall have the following powers:
To invest any money belonging to the Institute including any unapplied income in any of the securities described in Section 20 of the Trusts Act, 1882, or in the purchase of immovable property or in such other manner, as it may prescribe, with the like power of varying such investments