71Gifts, trusts and other dispositions

71 Gifts, trusts and other dispositions

(1) This section applies to—

(a) a gift, disposition or trust of property or a trust fund to which the old Act applied immediately before the commencement date; or

(b) a gift, disposition or trust of property or a trust fund—

(i) made or declared, or deemed to have been made or declared, or created (as the case requires) before, on or after the commencement date, by deed, will or otherwise, to, in favour of, for the use of, or for the purposes of the University as established under the old Act; and

(ii) which takes effect, or may take effect, or, in the case of a trust fund may be applied, on or after the commencement date.

(2) A gift, disposition, trust or trust fund to which this section applies does not fail only because of the repeal of the old Act but, in relation to any other matter occurring on or after the commencement date—

(a) in the case of a gift, disposition or trust of property, takes effect as if made or declared to, or in favour of, the University for a purpose of the University that corresponds with, or is similar to, the purposes for which it was made or declared; or

(b) in the case of a trust fund, may be applied as if created in favour of the University for a purpose of the University that corresponds with, or is similar to, the purposes for which the fund was created.