2. Financial Administration
2.1 The Board shall be responsible for controlling the finances of the University and through the Vice-Chancellor shall ensure that these Financial Regulations are observed.
2.2 All Liverpool John Moores University Higher Education Corporation activities, including research and other grants, trading activities, activities of wholly owned subsidiary companies and activities of the Liverpool John Moores Trust shall be conducted in accordance with the Financial Regulations of the Liverpool John Moores University Higher Education Corporation.
2.3 The Board shall define the trading activities of the Subsidiary Companies and shall delegate responsibility for running these Companies to the Company Directors in accordance with the approved Scheme of Delegation.
2.4 The Vice-Chancellor as the University's designated officer holder under the Financial Memorandum between the University and the HEFCE shall be responsible through the Strategic Management Group for ensuring the University complies with all statutory financial matters.
2.5 Under the Scheme of Delegation the Finance Director is responsible to the Vice- Chancellor for the strategic and operational financial management of the University.