UNIVERSITY OF THE SUNSHINE COAST ACT 1998 - SECT 43 Amendment of terms of trusts and gifts

UNIVERSITY OF THE SUNSHINE COAST ACT 1998 - SECT 43

43 Amendment of terms of trusts and gifts

(1) This section applies if—

(a) property is held by the university on terms requiring the property to be used for a particular purpose (the
"donor’s purpose" ); and

(b) the council is satisfied—

(i) the donor’s purpose—

(A) has been wholly or substantially achieved; or

(B) no longer exists; or

(C) has been adequately provided for in another way; or

(D) is uncertain, can not be identified, or is insufficiently defined; or

(E) becomes impossible, impractical or inexpedient to carry out; or

(ii) the property is inadequate for the donor’s purpose.

(2) The council may prepare a scheme (the
"proposed scheme" ) for the use of the property for another purpose (the
"designated purpose" ).