Power to accept gifts etc
18 Power to accept gifts etc
The Foundation may acquire, for the purposes for which it is constituted, any property by gift, devise or bequest and may agree to and carry out the conditions of any such gift, devise or bequest.
The rule of law against remoteness of vesting shall not apply to any such condition to which the Foundation has agreed.
The Foundation may act as trustee of money or other property vested in the Foundation upon trust.
The Corporation may, with the approval of the Minister, declare, by instrument published in the Gazette, any specified property (including money) acquired by the Corporation under section 12 to be property to which this subsection applies, and the property thereupon becomes vested in the Foundation, and any relevant condition to which the Corporation has agreed shall be deemed to be a condition to which the Foundation has agreed.
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