40
CurrentEstablishment of investment common funds
40 Establishment of investment common funds
(1)
The University may establish one or more investment common funds for the collective investment of any trust funds and other funds held by or in the custody of the University.
(2)
The University, without liability for breach of trust, may bring into or withdraw from any investment common fund the whole or any part of any trust fund or other fund held by or in the custody of the University.
(3)
Subsection (2) applies despite any direction to the contrary, whether express or implied, contained in the trust instrument.
This Act’s bill:Explanatory memorandumSecond reading speech
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