10Disposal of certain property

10 Disposal of certain property

10 Disposal of certain property

(1) Subject to subsection (2), where the Trust resolves that any property that has been acquired by the Trust subject to a condition to which the Trust has agreed under section 8 (3) is not required for the purposes of the Trust, the Trust may—

(a) sell the property and retain the proceeds of the sale as property of the Trust,

(b) exchange the property for other property,

(c) give the property to a scientific institution, an educational institution or a statutory body or for the purposes of a Government Department, or

(d) if the Trust is of the opinion that the property is of no commercial value—dispose of the property without valuable consideration,

notwithstanding the condition subject to which the property was acquired.

(2) The Trust shall not—

(a) sell or exchange any property under subsection (1) (a) or (b), or give or dispose of any real property under subsection (1) (c) or (d), except with the consent of the Governor, or

(b) give or dispose of any property, other than real property, under subsection (1) (c) or (d), except with the consent of the Minister,

and in accordance with any condition the Governor or the Minister, as the case may be, may impose upon the grant of that consent.

(3) The Governor may consent to the sale, exchange, gift or disposal, and the Minister may consent to the gift or disposal, of property for the purposes of this section and may impose any condition upon the grant of consent.