New South Wales Consolidated Acts

C.B. ALEXANDER FOUNDATION INCORPORATION ACT 1969 - SECT 5

5 Agreement for vesting of certain property

(1) Subject to this Act, the Minister on behalf of Her Majesty, and the Treasurer, may enter into an agreement with the Trust for and with respect to:

(a) the handing over to the Minister of the operation, maintenance and management of the C.B. Alexander Agricultural College pursuant to this Act,

(b) the vesting in Her Majesty of:

(i) the land described in the Schedule to this Act or any part thereof,

(ii) any other land that, pursuant to the order, was vested in the Trust before the commencement of this Act, and

(iii) any other land used for the purposes of, or in connection with, the C.B. Alexander Agricultural College,

(c) the assurance to the Foundation, for the purposes of this Act and by direction of the Minister on behalf of Her Majesty, of the land the subject of the agreement,

(d) the transfer to Her Majesty of personal property used or produced for the purposes of, or in connection with the operation, maintenance or management of, the C.B. Alexander Agricultural College,

(e) the consideration in money to be paid by the Treasurer for the performance of the agreement by the Trust,

(f) the giving of any indemnity with respect to any obligation of the Trust in connection with the Will or order,

(g) the payment of moneys to the Trust for the purpose of discharging any liability of the Trust or any other person incurred, or to be incurred, in connection with the C.B. Alexander Agricultural College, and

(h) such other matters and things as, in the opinion of the Minister and the Treasurer, are connected with or incidental to the matters referred to in paragraphs (a), (b), (c), (d), (e), (f) and (g) of this subsection.

(2) The Stamp Duties Act 1920 shall not apply to or in respect of:

(a) any instrument executed after the commencement of this Act whereby any real or personal property is, or is agreed to be, conveyed, transferred or leased to the Foundation,

(b) any devise or bequest in favour of the Foundation taking effect after that commencement, or

(c) the receipt of money by the Foundation.

(3) All acts, matters or things that, by an agreement entered into under subsection one of this section are agreed, directed, authorised or permitted to be done or executed thereunder may, notwithstanding anything in the Will, the order or any other Act, be done or executed without any further authority than this Act.

(4) Subject to this Act, trust property shall be held by the Foundation upon trust for Her Majesty for the purposes of the C.B. Alexander Agricultural College.

(5) The Foundation shall not, without the consent of the Governor, alienate, mortgage, charge or demise any trust property.