(1)The Imperial Institute Building or so much thereof as is not for the time being leased or otherwise disposed of shall be used and all property transferred to the responsible Minister under this Act and the income of the Endowment Fund and all sums received by the responsible Minister in respect of the exercise of any of his powers and duties under this Act shall be used and applied by the responsible Minister so far as practicable in carrying out [F1the purposes of the Commonwealth Institute] set forth in the First Schedule to this Act so however that any property transferred from the Imperial Mineral Resources Bureau which was given to that bureau shall be applied to the purposes for which it was so given.
(2)The responsible Minister shall receive and hold any sums of money or property given or entrusted to him for any purpose for which property transferred to him under this Act may be used and shall apply any such sums of money or property for the purposes for which they are so given or entrusted to him.
(3)The income of the Endowment Fund shall be paid over by [F1the Commonwealth Institute Trustees] to the responsible Minister and the Imperial Institute Building shall be under the management of the responsible Minister.
Textual Amendments
F1Words substituted by Commonwealth Institute Act 1958 (c. 16), Sch. 2