6Transfer and investment of fund and application of proceeds

6 Transfer and investment of fund and application of proceeds

6 Transfer and investment of fund and application of proceeds

(1) The fund is hereby vested in the trustees, and shall by them be invested in any of the securities authorised by the Trustee Act 1925.

(2) The interest arising from the investment of the fund shall be expended, in such amounts as from time to time are determined by the trustees—

(a) in enabling any person selected by the trustees to carry out study or research in agricultural problems, and

(b) at the discretion of the trustees, in paying—

(i) the whole or part of the costs and expenses of the delivery of an annual Farrer Memorial Oration and the annual presentation of medal, known as the Farrer Memorial Medal, and

(ii) an honorarium to the recipient of the Farrer Memorial Medal.

s 6: Am 1974 No 70, sec 2 (b).