Testamentary trusts, gifts or deeds
29 Testamentary trusts, gifts or deeds
The following provisions apply in relation to a reference of the following kinds in any testamentary disposition, gift or trust (whenever made or declared) in existence before the prescribed day for the university:
a reference to a prescribed university will be taken to be a reference to Adelaide University;
a reference to a relevant entity (past or present) of a prescribed university, will be taken to be a reference to a relevant entity of Adelaide University that most closely corresponds to the relevant entity referred to in the relevant testamentary disposition, gift or trust as determined by the University;
a reference to the holder of an office or position (past or present) at a prescribed university will be taken to be a reference to the holder of an office or position at Adelaide University that most closely corresponds to the office or position referred to in the relevant testamentary disposition, gift or trust as determined by the University.
A testamentary disposition, gift or trust that is subject to the operation of this clause must be administered in a manner that accords, as far as is reasonably practicable, with the spirit of the original purposes of the disposition, gift or trust.
Nothing in this clause operates to defeat the intention reflected by the provisions or terms of a testamentary disposition, gift or trust that provide that, should the beneficiary or donee cease to exist, the testamentary disposition, gift or trust was to lapse or was to be in favour of some other person or body.
Nothing in this clause invalidates the execution, declaration or creation of a testamentary disposition, gift or trust made or effected before the prescribed day.
Nothing in this clause—
affects the operation of any order or determination of a court made before the prescribed day; or
affects the operation or validity of an act or decision of an executor or executrix, a donor or person acting on behalf of a donor, or a trustee, lawfully taken or made before the prescribed day.
In this clause—
relevant entity means a campus, school, division, faculty, research facility, library, administrative unit or asset (of any description or title) and includes an entity that is substantially similar to such an entity.
This Act’s bill:Second reading speech
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