Sale or disposal of certain property
20 Sale or disposal of certain property
Where The Trust adjudges any real or personal property that is vested in it, to be unfit or not required for the objects of The Trust it may, with the consent of the Governor, notwithstanding the terms of any trust affecting that property or of any arrangement or condition made or agreed to by it at the time of the acquisition of the property by The Trust —
sell the property or exchange it for any other property; or
dispose of it without consideration or, in the case of personal property, destroy the property, if The Trust adjudges it to be of no saleable value,
and the proceeds of any sale made pursuant to paragraph (a) shall, after deducting the costs of and incidental to the sale from the proceeds, be held for the objects of The Trust.
Any property sold or disposed of by The Trust, pursuant to subsection (1), shall vest in the person acquiring the property by virtue of the sale or disposition freed and discharged from any trust, arrangement or condition relating to any sale or disposition of the property or to the use of the property, to which it was subject in the hands of The Trust.
A person acquiring any property from The Trust purporting to exercise any of the powers conferred on it by subsection (1) shall not be concerned to inquire whether a case has arisen to authorise the sale or other disposition of the property or whether the power was otherwise duly exercised or to see to the application of any purchase money paid to The Trust.
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