The Act of Parliament amending the law with regard to promissory oaths, and that of 1873 abolishing religious tests in the University of Dublin, necessitated further changes in the Royal Statutes of the College, and these were effected by Letters Patent of 1874, which also founded the Academic Council, and transferred to it, from the Provost and Senior Fellows, the nomination to Professorships, and gave to it, concurrently with the Board, the power to regulate the studies of the College. This Council consists of sixteen members and the Provost--four elected by the Senior Fellows, four by the Junior, four by the Professors who are not Fellows, and four by the Senate at large (excluding those who are already represented). The representatives of each class hold office for four years, are elected at the same time, and vacate office in rotation. The electors can give all their votes to one candidate, or they may distribute them among the candidates as they think fit. The election to Professorships in the Divinity School, of Medical Professors founded by Act of Parliament, and of Professors of private foundation the appointment of which is by the wills of the founders vested in the Provost and Senior Fellows, remains with the Board. In 1851 a very important Act of Parliament was passed, which extended the leasing powers of the College in respect to the estates belonging to the Corporation. Prior to that year it was precluded from giving leases of the lands belonging to the College for a longer period than twenty-one years, except in cities, where sites for building might be leased for forty years. The rent to be reserved should be equal to one-half of the true value of the lands, _communibus annis_, at the time of making the lease. The Provost and Senior Fellows, however, might grant leases for twenty-one years at a rent equal to that which was hitherto payable out of the lands, even though it was less than half the value. The custom was for the College to renew these leases when a few years had expired, on the payment of fines which were in some cases considerable, and which were divided among the members of the Governing Body of the College. These renewal fines formed the principal part of the incomes of the Senior Fellows. By the Act of 1851 (14 and 15 Victoria, cap. 128) additional powers of leasing were granted up to ninety-nine years without fines, reserving a minimum rent of three-fourths of the annual value; making, however, a reduction in respect to the tenant’s interest in an unexpired lease when it was surrendered. Also, powers of granting leases in perpetuity were given to the Board on the surrender by the tenants of the existing leases. These perpetuity rents were fixed by a regulation contained in the Statute, and were variable from time to time, at intervals of ten years, according to the changes in the prices of certain agricultural commodities. Renewal fines were abolished, and the Provost and Senior Fellows were compensated