(1)Subject to the provisions of this section, the Trustees may accept gifts of money or other property.
(2)The Trustees shall not accept a gift unless it is either unconditional or on conditions which enable the subject of the gift (and any income or proceeds of sale arising from it) to be applied for a purpose for which the Fund may be applied under this Part of this Act and which enable the Trustees to comply with subsection (3) below and section 2(2) above.
(3)The Trustees shall not retain any property (other than money) accepted by them by way of gift except in such cases and for such period as [F1the Secretary of State] may allow.
(4)References in this section to gifts include references to bequests and devises.
Textual Amendments
F1Words in s. 5(3) substituted (3. 7. 1992) by S.I. 1992/1311, art. 12(2), Sch. 2 para. 5(2)(b).