(1)Subject to subsection (2), the Board may lend any object the property in which is vested in them and which is comprised in their collections (whether or not the loan is for purposes of public exhibition, and whether or not under the terms of the loan the object is to remain in the United Kingdom).
(2)In deciding whether or not to lend an object, and in determining the time for which and the conditions subject to which an object is to be lent, the Board—
(a)shall give special consideration to a request for the loan of an object for public exhibition, and
(b)subject to that, shall have regard to the interests of students and other persons visiting the Board’s collections, the suitability of the prospective borrower, the purpose of the loan, the physical condition and degree of rarity of the object, and any risks to which it is likely to be exposed.
(3)Where the property in an object has become vested in the Board subject to a condition, the power conferred by subsection (1) is exercisable in a manner inconsistent with the condition if either—
(a)25 years have elapsed since the date on which the property became vested in the Board (or, where it became vested in them under section 4(1), the Minister), or
(b)the person who first imposed the condition or his personal representatives have consented in writing to the exercise of the power in that manner.
(4)The Board may accept loans of objects for the purpose (depending on the terms of the loan) of exhibiting them, or of study or research by the Board or by persons seeking to inspect them.
Modifications etc. (not altering text)
C1Ss. 1-16: functions of the Secretary of State transferred by S.I. 1983/879, 1984/1814, 1986/600, 1992/1311 and as from 29.4.1986 to 2.7.1992 exercisable by the Lord President of the Council by virtue of S.I. 1986/600, arts. 2(1), 7(1), Sch 1 Pt. I and as from 3.7.1992 again exercisable by the Secretary of State by virtue of S.I. 1992/1311, art. 3(1), Sch. 1 Pt.I and references to the Secretary of State from 29.4.1986 to 2.7.1992 and from 3.7.1992 to be construed accordingly by virtue of S.I. 1986/600, art. 7(1) and S.I. 1992/1311, art. 12(4)