s 43
In forceAmendment of terms of trusts and gifts
Part 5Property and finance
Division 1Property held on trust or conditions
43 Amendment of terms of trusts and gifts
(1)
This section applies if—
(a)
property is held by the university on terms requiring the property to be used for a particular purpose (the donor’s purpose); and
(b)
the council is satisfied—
(i)
the donor’s purpose—
(A)
has been wholly or substantially achieved; or
(B)
no longer exists; or
(C)
has been adequately provided for in another way; or
(D)
is uncertain, can not be identified, or is insufficiently defined; or
(E)
becomes impossible, impractical or inexpedient to carry out; or
(ii)
the property is inadequate for the donor’s purpose.
(2)
The council may prepare a scheme (the proposed scheme) for the use of the property for another purpose (the designated purpose).
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