20Powers of Management Committee

20 Powers of Management Committee

(1)  The Management Committee may, with the approval of the Minister, acquire by gift, bequest, or devise any property for the benefit of the Management Committee and may agree to any condition to which any such gift, bequest, or devise may be subject.

(2)  The rule of equity known as the rule against perpetuities or the rule against remoteness of vesting does not apply to a condition to which a gift, bequest, or devise is subject and to which the Management Committee has agreed.

(3)  [Section 20 Subsection (3) omitted by No. 15 of 2001, Sched. 2, Applied:01 Jul 2001] .  .  .  .  .  .  .  .  

(4)  Any gift, bequest, or devise acquired by the Management Committee pursuant to this section shall not be deemed to be a gift, bequest, or devise to or for the benefit of the Crown.