151Gifts and donations

151 Gifts and donations (1) This section applies if the Minister is satisfied that a condition attached to, or a purpose of, a gift or bequest of property to the Territory on trust for educational purposes (the original trust) is inappropriate, impracticable, or impossible to comply with. (2) The Minister may declare the property the subject of the original trust is subject to another trust. (3) The declaration must state the purposes of the other trust.

(4) In making the declaration, the Minister must ensure that the property is dealt with as nearly as is practicable for the purposes for which it was held immediately before the declaration, except so far as it is inappropriate, impracticable, or impossible to do so. (5) When the declaration commences, the original trust ceases and the property is taken to be held by the Territory in trust for the purposes stated in the declaration. (6) A declaration is a notifiable instrument.