Law of Property (Amendment) Act 1924

PART II Provisions facilitating the Consolidation of the Law relating to Universities and College Estates

Amendment of s. 41 of the principal Act.

1 The powers conferred by subsection (4) of section forty-one of the principal Act shall, in the case of a university or college, not be exercised without the consent of the Minister.

Amendment of 43 & 44 Vict. c. 46, s. 2.

2 The provisions of section two of the Universities and College Estates (Amendment) Act, 1880, relating to the application of purchase money of land sold, shall extend to all capital money arising under the Universities and College Estates Acts, 1858 to 1898.

Discharge of mortgages.

3 When money has been raised by way of mortgage made by a university or college under the enactments in that behalf, the university or college shall, in such manner as may be approved by the Minister, make provision, either by the grant of an annuity to the lender or by the creation of a sinking or redemption fund or otherwise, for the discharge, within such time not exceeding the maximum time allowed for the repayment of the loan as may be sanctioned by the Minister, of the money borrowed and of the payment of interest due thereon.

Extension of 3 & 4 Vict. c. 113, as amended, to canonries.

4 The benefices to which section sixty-nine of the Ecclesiastical Commissioners Act, 1840, as extended by section seven of the Universities and College Estates. Act, 1860, applies, shall include canonries.

Power to transfer advowsons gratuitously.

5 It shall be lawful for a university or college to transfer gratuitously to a bishop, dean and chapter, or other ecclesiastical corporation willing to accept the same, any right of patronage belonging to the university or college.

Amendment of 21 & 22 Vict. c. 44, s. 2.

6 Section two of the Universities and College Estates Act, 1858, shall have effect as if for the words “or other assurance,” there were substituted the words “other assurance or instrument, ” and as if for the words “or mortgage” where they first occur in that section, there were substituted the words " mortgage or other transaction. "

Amendment of 61 & 62 Vict. c. 55, s. 5.

7 Section five of the Universities and College Estates Act, 1898, shall have effect as if for the words “or quit rent ” there were substituted the words " quit rent or other periodical payment. "

Amendment of 21 & 22 Vict. c. 44, s. 29.

8 The Universities and College Estates Act, 1858, shall have effect as if for section twenty-nine thereof the following sections were substituted :

“(1) The powers and provisions of this Act relating to land belonging to a university or college shall extend and be applicable not only to land vested in the university or college or in any body constituted for holding land belonging to the university or college and held as the property or for the general purposes of the university or college, but also to land so vested which may be held upon any trusts, or for any special endowment or other purposes, connected with the university or college.

(2) The powers conferred by this Act on a university - or college may, as respects each particular university or college, be exercised by such body and in such manner as may be provided by the statutes regulating that university or college.”