Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) In exercising its powers to acquire, hold, deal with or dispose of real or personal property, a college may agree to and carry out the conditions of a gift, grant, bequest, devise, purchase, lease or other means by which it acquires or holds property, and the council of the college may create and administer such trust fund or funds for that purpose, or for any other purpose, as it thinks fit.
(2) Subsection (1) does not apply to grants or other receipts from the Territory or the Commonwealth.