Universities and College Estates Act 1925

38 Provisions as to consents by Minister

(1) The consent required by this Act to be given by the Minister to any sale or exchange by a university or college shall be evidenced in manner following (that is to say); the Minister, upon consideration of the proposed transaction, and the report thereon of the surveyor of the university or college, and being satisfied as to the propriety thereof, shall issue an order under his official seal authorising the proposed sale or exchange to be carried into effect by the university or the college.

(2) The consent of the Minister to the investment of capital money in the purchase of other lands, shall also be evidenced by a similar order, to be issued by the Minister in manner aforesaid, approving of the proposed purchase, and authorising the university or college to carry the same into effect.

(3) The consent of the Minister to the raising of money by mortgage shall be evidenced by a similar order authorising the proposed mortgage to be effected by the university or college.

(4) It shall not in any case be necessary that the Minister should be made party to, or should execute any conveyance, assignment, or other assurance or instrument to be made or executed by a university or college for effecting any sale, exchange, purchase, mortgage or other transaction under this Act, or satisfy himself as to the title of any lands, the subject of any such transaction.

(5) Notwithstanding anything herein contained, the Minister may require a valuation to be made by any surveyor to be selected or approved by him, and also a plan to be furnished of the lands, the subject of any such sale, exchange, purchase, or mortgage, and all costs and expenses of and incidental to obtaining any such consent shall be borne by the university or college.

(6) The Minister may, if he thinks fit, in giving his consent to a sale, exchange, purchase, or redemption of any land tax, tithe rentcharge, Crown rent, chief rent, quit rent or other periodical payment, by a university or college, dispense with a report from the surveyor of the university or college.