Governance is conducted through the Board of Governors and the Senate, whose roles were established by the University of Ottawa Act, 1965. The Act describes their membership and powers, as well as their principal officers. The Board provides overall governance and management, including financial decisions and the implementation of policies and procedures. The Board consists of an executive committee which includes the Chair of the Board and the Vice-Chair and Chair of the Executive Committee. As stipulated by the act, the board comprises no more than 32 members, appointed or elected by the various parts of the university community. While not stipulated in the act, the board's membership includes elected undergraduate and graduate student representatives. The Board includes one honorary member, the current chancellor.