(1) The TAFE Commission may acquire by gift, bequest or devise any property
for the purposes of this Act and may agree to carry out the conditions of any
such gift, bequest or devise.
(2) The TAFE Commission must not, except with
the approval of the Minister, alienate, mortgage, charge or demise any of its
land.
(3) Despite subsection (2), the TAFE Commission may, without the
approval of the Minister, lease any of its land if:
(a) the term of the lease
does not exceed 21 years, and
(b) there is reserved for the whole of the term
the highest rent that can reasonably be obtained.
(4) The rule of law against
remoteness of vesting does not apply to or in respect of any condition of a
gift, bequest or devise to which the TAFE Commission has agreed.