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(1)On the appointed day there shall be a body known as the Theatres Trust, which shall be a body corporate having perpetual succession and a common seal.
(2)The affairs and property of the Trust shall be managed and administered by the trustees.
(3)The Schedule to this Act shall have effect with respect to the trustees.
(1)The objects of the Trust are to promote the better protection of theatres for the benefit of the nation.
(2)The trustees shall have power exclusively for the furtherance of the above-mentioned objects—
(a)to acquire by purchase, gift or bequest and hold any theatre or any land required for the benefit of any theatre;
(b)to contribute towards the acquisition of any theatre or any such land;
(c)to maintain or assist in the maintenance of any theatre;
(d)subject to the provisions of [F1sections 117 to 121 and 124 of the Charities Act 2011], from time to time to sell, mortgage, charge, let, surrender, exchange or otherwise dispose of any land or any personal estate or property (including moneys secured on mortgage of or charged upon any land) vested in or acquired by the trustees or any part thereof or any easements, rights or privileges to be exercised or enjoyed in, over, upon or under the same or any part thereof, and to do and execute all such acts, deeds, matters and things as may be necessary for affectuating and completing any such sale, mortgage, charge, letting, surrender, exchange or disposition;
(e)to print, publish and sell literature, pictures and photographs and other things relating to the trust property;
(f)to give financial and other assistance to any body whose objects are charitable and similar to those of the Trust and to give such assistance in connection with any function or scheme for a purpose which is both charitable and similar to an object of the Trust;
(g)to co-operate with other persons engaged in activities similar to those of the objects of the Trust and in connection therewith to provide for the interchange of staff;
(h)to accept, receive and retain legacies, gifts, grants, annuities and other benefits and consistently with the objects of the Trust but not otherwise to undertake and perform any services or conditions attached to the receipt thereof;
(i)to raise or borrow money for the purposes of the Trust and secure the same and any interest thereon upon the property of the Trust;
(j)to make appeals, advertise and conduct such other lawful activities of a similar nature as may be necessary to raise funds for the Trust or to make known its existence, purposes or work;
(k)to do all such other things as are incidental to the attainment of the objects of the Trust.
[F2(3)Subsection (2) above shall have effect in relation to Scotland with the substitution for paragraph (d) of the following paragraph—
“(d)from time to time to sell, let, surrender or otherwise dispose of, or apply as security for borrowing, any heritable or moveable property vested in or acquired by the trustees;”]
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The trustees shall have power—
(a)to appoint a director, a secretary and such other officers and servants as the trustees may determine;
(b)to pay to the trustees such travelling and subsistence allowances while attending meetings of the trustees or any committee of the trustees or while on any other business of the trustees as the trustees may determine;
(c)to pay to their officers and servants such remuneration as the trustees may determine;
(d)as regards any officers or servants in whose case they may determine to do so—
(i)to pay to, or in respect of them, such pensions and gratuities as the trustees may determine;
(ii)to provide and maintain for them such superannuation schemes (whether contributory or not) as the trustees may determine; or
(iii)to enter into and carry into effect agreements with any insurance company or other association or company for securing to any such officer or servant or his [F3surviving spouse, surviving civil partner,] family or dependant such gratuities or pensions as are by this paragraph authorised to be paid.
In this Act—
“the appointed day” means such day as the Secretary of State may by order appoint;
“play” has the same meaning as in the M2Theatres Act 1968;
“theatre” means any building or part of a building constructed wholly or mainly for the public performance of plays;
“the Trust” means the Theatres Trust constituted by this Act;
“the trustees” means the trustees appointed under the provisions of the Schedule to this Act;
“the trust property” means the stocks, shares and other securities, sums of money and other property for the time being held by the trustees for the purposes of the Trust.
(1)This Act may be cited as the Theatres Trust Act 1976.
(2)This Act shall come into force on such date (not being later than the expiration of the period of six months beginning with the day on which it is passed) as the Secretary of State may by order appoint and different dates may be appointed for different provisions and for different purposes.
(3)The power of the Secretary of State to make orders under this Act shall be exercisable by statutory instrument.
(4)This Act does not extend to . . . F5 Northern Ireland.
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