The university was established to provide a regular and liberal course of education according to the preamble of the 1889 Act.;;;;According to the University of Tasmania Act 1992, the University has the following functions:;;(a) to advance, transmit and preserve knowledge and learning;;(b) to encourage and undertake research;;(c) to promote and sustain teaching and research to international standards of excellence;;(d) to encourage and provide opportunities for students and staff to develop and apply their knowledge and skills;;(e) to provide educational and research facilities appropriate to its other functions;;(f) to promote access to higher education having regard to principles of merit and equity;;(fa) to foster or promote the commercialisation of any intellectual property;;(g) to engage in activities which promote the social, cultural and economic welfare of the community and to make available for those purposes the resources of the University.