4Power to substitute institutions as beneficiaries in place of institutions ceasing to exist

4 Power to substitute institutions as beneficiaries in place of institutions ceasing to exist

(1)  In any case in which any charitable institution has ceased, or is about to cease, to exist, the trustees shall make such inquiry as to them seems proper and adequate for the purpose of ascertaining some other institution in this State having similar objects to that charitable institution, regard being had to the intentions of the deceased as appearing from his will, and shall certify in writing their opinion therein to the Attorney-General.

(2)  A certificate of the trustees under subsection (1) that a charitable institution has ceased or will cease to exist and of proper and adequate inquiry and of their opinion as in that subsection referred to is, for all purposes, conclusive evidence of those facts.

(3)  In certifying their opinion under subsection (1) as to an institution which may properly be endowed in substitution for a charitable institution which has or will cease to exist, the trustees may apply to the Attorney-General for his approval under this section.

(4)  On receiving the certificate of the trustees, referred to in subsection (1) , and on application by them under subsection (3) , the Attorney-General may, in writing, approve of the substitution of the institution therein referred to for the charitable institution which has ceased, or will cease, to exist and may specify in such approval the terms and conditions (if any) on and subject to which it is given.

(5)  An approval of the Attorney-General under this section is authority for the trustees, in accordance with the terms and conditions (if any) specified therein, to apply for the benefit of the institution in respect of which the approval was given the sum formerly applied for the benefit of the charitable institution which has ceased, or will cease, to exist and any accumulations thereof to the total exclusion of that charitable institution.

(6)  The Attorney-General may specify in an approval under this section a date for the purpose of this section being either antecedent or subsequent to the date of the approval and the authority thereby afforded shall be effective as from that date; if no date is so specified such authority shall be effective from the date of the approval.