New South Wales Consolidated Acts

UNIVERSITY OF SYDNEY ACT 1989 - SECT 25

25 Variation of terms of trust

(1) If:

(a) by the terms of a trust, any property is held:

(i) on trust for a charitable purpose, or

(ii) on trust for a purpose of the University other than its general purposes, and

(b) in the opinion of the Senate, it is impossible or inexpedient to carry out or observe the terms of the trust, whether as to its purpose or any other of its terms,

the Senate may request the Minister to effect a variation of the terms of the trust.

(2) The Minister, if satisfied that it is just and equitable to do so, and with the concurrence of the Attorney General, may determine to vary the terms of the trust concerned in accordance with the Senate’s request.

(3) In the making of any such determination, regard is to be had:

(a) to the extent to which it may be necessary to depart from the terms of the trust concerned in order to avoid the impossibility or inexpediency complained of, and

(b) to what appear to have been the intentions of the donor in creating the trust.

(4) On delivery to the Senate of an instrument in writing signed by the Minister and specifying a variation of the terms of the trust concerned, the trust is varied accordingly.