New South Wales Consolidated Acts

WALKER TRUSTS ACT 1938 - SECT 4

4 Appropriation of part of the charitable fund

(1) The trustee of the will and codicil of the said Thomas Walker deceased shall upon the commencement of this Act appropriate out of the charitable fund the sum of one hundred thousand pounds and apply the same in manner following that is to say:

(a) As to sixty-six thousand and twenty-five pounds thereof in payment to the trustee of the will of Dame Eadith Campbell Walker deceased of the purchase moneys of the respective lands in the Schedules to this Act described.

(b) And as to the balance of the said sum of one hundred thousand pounds in payment thereof to the Colonial Treasurer to be placed by him in a separate trust account for the purposes of the constitution and establishment of the Dame Eadith Walker Convalescent Hospital for Men as in this Act set forth.

(2) As soon as practicable after the day appointed and notified under section 2 (2) of the Walker Trusts (Amendment) Act 1983 , the Treasurer shall close the separate trust account established under subsection (1) (b) and shall transfer the balance of the account to the Foundation.