18Powers of Council relating to University property

#### 18 Powers of Council relating to University property 18 Powers of Council relating to University property > > (1) The Council has the control and management of land and other property vested in the University. > > > (2) The Council may, for the purposes of this Act— > > > > > (a) acquire land and other property, and > > > > > (b) agree to carry out conditions of the acquisition of the land or other property, and > > > > > (c) grant easements and covenants over land vested in the University, and > > > > > (d) subject to subsections (3)–(5), dispose of or otherwise deal with the following— > > > > > > > (i) land vested in the University, > > > > > > > (ii) other property of the University. > > > (3) The Council must not sell, mortgage, charge or lease relevant land without the Minister’s approval. > > > (4) Despite subsection (3), the Council does not require the Minister’s approval to— > > > > > (a) lease relevant land if— > > > > > > > (i) the term of the lease is no more than 21 years, and > > > > > > > (ii) the Council is satisfied the leasing of the land is consistent with the object and functions of the University under section 6, or > > > > > (b) lease relevant land if— > > > > > > > (i) the term of the lease is no more than 99 years, and > > > > > > > (ii) the leasing of the land is for the purposes of utilities infrastructure or utilities services, or > > > > > (c) enter into a planning agreement under the [Environmental Planning and Assessment Act 1979](/view/html/inforce/current/act-1979-203), section 7.4 if the agreement does not require the University to dedicate relevant land free of cost. > > > (5) A lease of land vested in the University, or a renewal of the lease, to a residential college affiliated with the University— > > > > > (a) must be for a term that is no more than 99 years, and > > > > > (b) must be at a nominal rent, and > > > > > (c) must contain a condition that the lease must not be assigned, and > > > > > (d) may contain other conditions the Council considers necessary or appropriate. > > > (6) The rule of law against remoteness of vesting does not apply to a condition of the acquisition of property to which the University has agreed. > > > (7) In this section— > > > > acquire includes acquire by purchase, gift, grant, bequest or devise. > > > > other property means property other than land. > > > > relevant land means land acquired by the University from the State at nominal or less than market value. > > **s 18:** Am 1994 No 16, Sch 1; 2014 No 43, Sch 1.2 \[3\]–\[5\]; 2017 No 22, Sch 1.12 \[3\]; 2017 No 23, Sch 1.2. Subst 2024 No 66, Sch 2.\\