Universities and College Estates Act 1925

20 Provisions as to consideration

(1) All money (not being rent) payable by the university or college in respect of any transaction to which any of the three last preceding sections relates may be paid out of capital money, and all money (not being rent) received on the exercise by the university or college of the powers conferred by any of those sections, shall be paid to the Minister and shall, unless the Minister (upon an application made within six months after the receipt thereof or within such further time as the Minister may in special circumstances allow) otherwise directs, be capital money.

(2) For the purpose of the three last preceding sections " consideration in money or otherwise " means—

(a) a capital sum of money or a rent;

(b) land being freehold or leasehold for any term of years whereof not less than sixty years shall be unexpired;

(c) any easement, right or privilege over or in relation to land belonging to the university or college, or any other land;

(d) the benefit of any restrictive covenant or condition; and

(e) the release of land belonging to the university or college, or any other land, from any easement, right or privilege, including a right of preemption or from the burden of any restrictive covenant or condition affecting the same.