(1) A college consists of the governing council, the staff and the enrolled students of that college.

(2) A college is a body corporate with ¾

(a) perpetual succession and a common seal; and

(b) power to take and defend proceedings in its corporate name.

(3) Regulations may be made under section 67 as to the custody and use of the common seal of a college or a facsimile of that seal, in this State or any other State or Territory.