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QUEEN'S UNIVERSITY OF BELFAST (TRUSTS) ACT (NORTHERN IRELAND) 1952

THE QUEEN'S UNIVERSITY OF BELFAST (TRUSTS) ACT (NORTHERN IRELAND)
1952 - LONG TITLE

An Act to make provision with respect to trust property held by or
on behalf of, or for purposes connected with, the Queen's University
of Belfast.
[9th December 1952]
Schemes for administering the university trusts.

THE QUEEN'S UNIVERSITY OF BELFAST (TRUSTS) ACT (NORTHERN IRELAND)
1952 - SECT 1

1.(1) The Queen's University of Belfast (in this Act called "the
university") may make a scheme providing for the following matters:

(a)for the application of the scheme to such trusts as may be
specified therein, being trusts which are administered by the
university or which are administered by other trustees for purposes
connected with the university and are included in the scheme with
the consent of those trustees;

(b)for enabling all the property held by the university on any
trust to which the scheme applies, with such exceptions as may be
specified in the scheme, to be administered by the university as a
single fund (hereafter referred to as "the Fund");

(c)for enabling the trustees of any trust to which the scheme
applies which is not administered by the university to transfer to
the university all the property comprised in the trust, with such
exceptions as may be specified in the scheme, and for its
administration as part of the Fund;

(d)for enabling the Ministry of Finance to transfer to the
university any property held by it on behalf of the university on
any trust to which the scheme applies, and for the administration
of that property as part of the Fund;

(e)for valuing the Fund and determining the shares of the various
trusts therein;

(f)for distributing the income of the Fund in accordance with the
said shares, and for enabling, in the case of any trust, advances
of capital to be made out of the Fund, up to an amount not
exceeding the share of that trust, for any purpose for which
capital is authorised by the terms of the trust to be advanced;

(g)for authorising, in such circumstances as may be specified in the
scheme, a part of the income for any year to be placed to a
reserve account for the purpose of eliminating or reducing
fluctuations of income;

(h)for conferring upon the university powers of investment with
respect to property comprised in the Fund, including powers to
invest in the purchase of land;

(i)for enabling the scheme to be extended to trusts administered by
or for purposes connected with the university, being trusts created
after the coming into operation of the scheme or excluded from the
scheme for other reasons, unless the terms of the trust expressly
provide to the contrary or (in the case of trusts not administered
by the university) the consent of the trustees is withheld;

(j)for any incidental, consequential and supplementary matters for
which the university considers it expedient to provide.

(2) The university may make different schemes under this section in
relation to different classes of trusts.

THE QUEEN'S UNIVERSITY OF BELFAST (TRUSTS) ACT (NORTHERN IRELAND)
1952 - SECT 2
Submission, approval and operation of schemes.

2.(1) A scheme made under this Act shall not come into operation
until it has been approved by the Governor of Northern Ireland by
Order in Council.

(2) The Governor of Northern Ireland shall not be recommended to
make an Order in Council under this section approving any scheme
until a draft of that scheme has lain before each House of
Parliament for the statutory period.

(3) If either House of Parliament within that period resolves that
the scheme shall not be proceeded with, no further proceedings shall
be taken in relation thereto, but without prejudice to the
preparation of a new scheme.

(4) A scheme approved under this section shall have effect
notwithstanding anything contained in or operative by virtue of any
enactment, Royal Charter or other instrument whatsoever.

(5) A scheme approved under this section may be varied or revoked
by a subsequent scheme made and approved in like manner and subject
to the like conditions.

THE QUEEN'S UNIVERSITY OF BELFAST (TRUSTS) ACT (NORTHERN IRELAND)
1952 - SECT 3
Short title.

3. This Act may be cited as The Queen's University of Belfast
(Trusts) Act (Northern Ireland), 1952.