New South Wales Consolidated Acts

ART GALLERY OF NEW SOUTH WALES ACT 1980 - SECT 9

9 Dealings with property

(1) In this section, "condition" means a condition to which the Trust has agreed under section 8 (3).

(2) Subject to subsection (3), the Trust shall not sell, mortgage, demise or otherwise dispose of any property acquired by gift inter vivos, devise or bequest or any real property otherwise acquired, except:

(a) where the property was acquired without any condition-with the approval of the Governor (which may be given in respect of any case or class of cases), or

(b) where the property was acquired subject to a condition-in accordance with the condition or section 10.

(3) Subject to section 8 (4), and except to the extent that it would be in breach of a condition, the Trust shall invest any of its funds not immediately required for the purposes of the Trust in any manner authorised by law for the investment of trust funds.