2F1Imperial Institute Trustees.U.K.
(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2
(2)[F3The Commonwealth Institute Trustees] shall hold the Imperial Institute Building and the Endowment Fund and all other property for the time being vested in them for the purposes of this Act or for any of those purposes to which the same may be applicable.
(3)[F3The Commonwealth Institute Trustees] may invest any money constituting capital of the Endowment Fund or other money for the time being vested in them in any securities in which trustees may for the time being invest under [F4the M1Trustee Investments Act 1961]
(4)[F3The Commonwealth Institute Trustees] may if requested by [F5the Secretary of State for Education and Science] with the consent of the Board of Governors hereinafter constituted sell lease or otherwise dispose of any real or personal estate held by them and apply any proceeds for the purpose of carrying out the objects of this Act or any of those objects to which the property disposed of was applicable but in the case of the proceeds of sale only in a manner in which capital money is properly applicable.
Textual Amendments
F1Unreliable margin note
F3Words substituted by Commonwealth Institute Act 1958 (c. 16), Sch. 2
F4Words substituted by virtue of Interpretation Act 1978 (c. 30), s. 17(2)(a)
F5Words substituted by virtue of S.I. 1949/588 (1949 I, p. 2571) art. 2(2) and 1964/490 arts. 2(1), 3(2)
Marginal Citations