Dealings with certain property acquired by gift, devise or bequest
10.9 Dealings with certain property acquired by gift, devise or bequest
If the Trust has, by gift, devise or bequest, acquired property subject to a condition to which the Trust has agreed under section 10.8, the Trust must not sell, lease, exchange or otherwise dispose of or deal with that property otherwise than in accordance with the condition.
Despite subsection (1), if the Trust decides that any property that has been acquired by the Trust subject to a condition to which the Trust has agreed is not required for the purposes of the Trust, the Trust may—
sell the property and retain the proceeds of the sale as property of the Trust, or
exchange the property for other property, or
if the Trust is of the opinion that the property is of no commercial value, dispose of the property without valuable consideration,
in contravention of the condition.
Further, if, after acquiring real property subject to a condition to which the Trust has agreed, the Trust is of the opinion that compliance with the condition would result in—
inefficient management of the property, or
management detrimental to the conservation of biodiversity of the property,
the Trust may manage the property in contravention of the condition.
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