25Dealings with certain property acquired by gift, devise or bequest

25 Dealings with certain property acquired by gift, devise or bequest

25 Dealings with certain property acquired by gift, devise or bequest

(1) Place Management NSW must not sell, lease, exchange or otherwise dispose of or deal with property acquired by gift inter vivos, devise or bequest except—

(a) if the property has been acquired subject to a condition to which Place Management NSW has agreed under section 24 (1), in accordance with the condition, or

(b) in any other case with the approval of the Minister.

(2) Despite subsection (1) but subject to subsection (3), if Place Management NSW decides that any property that has been acquired by Place Management NSW subject to a condition to which Place Management NSW has agreed under section 24 (1) is not required for the purposes of Place Management NSW, Place Management NSW may—

(a) sell the property and retain the proceeds of the sale as property of Place Management NSW, or

(b) exchange the property for other property, or

(c) if Place Management NSW is of the opinion that the property is of no commercial value, dispose of the property without valuable consideration,

in contravention of the condition.

(3) Place Management NSW must not sell, exchange or otherwise dispose of any property under subsection (2) except with the consent of the Minister and in accordance with any condition the Minister may impose upon the grant of that consent.

(4) The Minister may consent to the sale, exchange or disposal of property for the purposes of this section and may impose any condition the Minister thinks fit upon the grant of that consent.