54
CurrentApplication of revenue
Part 5Property and finance
Division 3Finance
54 Application of revenue
(1)
Subject to the terms of a relevant trust, amounts received by the university from any source are to be applied solely to university purposes.
(2)
To remove any doubt, each of the following purposes is a university purpose—
(a)
enabling a student or staff member, or former student or staff member, of the university to undertake study or research at the university or elsewhere;
(b)
the advancement of learning generally;
(c)
helping a body affiliated or associated with the university.
This Act’s bill:Explanatory memorandum
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