I don't think it would be correct to have the univ. reg. system on the right hand-side because that is the system you are modeling and therefore needs to be perform all the functions stated. The registration system is the one that accepts the forms and performs the verfication of the results and so forth.
My understanding is that on the right, you normally have things that the system inteacts with after it has done processing or mnipulaion of the data. It's typically some form of hardware,although it could be any thing or actor eg. printer, camera, mechanical robot, another person, etc. In this case I think I would have put something like the finance dept or despatch dept, etc.
I don't agree with the arrows between bubbles - it suggests to me that the functions are perforomed as a unit and not individually. for example that the student can't pay fees at a later stage after registration or that they cannot only check results without going throught the whole registration process. Also the last arrow pointing back to the student doesn't seem right - it is not the system that despatches the tut matter (unless the tut matter is in elecronic format and the systems e-mails it to the student), information is passes to the despatch department who then puts together the tut matter for the student to collect. That's why it would make more sense to me to have the despatch department on the right-hand-side of this use case.
