sec.46Gifts, devises and bequests

### sec.46 Gifts, devises and bequests This section applies if a gift, devise or bequest of property is made to the council for the benefit of the institute. If the council accepts the gift, devise or bequest— the acceptance is a complete discharge to the person making the gift, devise or bequest; and the person is not responsible for how the gift, devise or bequest is applied. If the person making the gift, devise or bequest gives any of the following directions, the council must comply with the direction— to keep a record of and an account for the property the subject of the gift, devise or bequest; to use the property in a particular way and for a particular purpose; to identify and use the property under a particular name or title. To the extent that subsection (3) does not apply, the council may do any of the following things in relation to the property the subject of the gift, devise or bequest— use the property in a way and for a purpose decided by the council; identify and use the property under the name or title decided by the council. This section applies subject to the Financial Accountability Act 2009 , section 64 . (sec.46-ssec.1) This section applies if a gift, devise or bequest of property is made to the council for the benefit of the institute. (sec.46-ssec.2) If the council accepts the gift, devise or bequest— the acceptance is a complete discharge to the person making the gift, devise or bequest; and the person is not responsible for how the gift, devise or bequest is applied. (sec.46-ssec.3) If the person making the gift, devise or bequest gives any of the following directions, the council must comply with the direction— to keep a record of and an account for the property the subject of the gift, devise or bequest; to use the property in a particular way and for a particular purpose; to identify and use the property under a particular name or title. (sec.46-ssec.4) To the extent that subsection (3) does not apply, the council may do any of the following things in relation to the property the subject of the gift, devise or bequest— use the property in a way and for a purpose decided by the council; identify and use the property under the name or title decided by the council. (sec.46-ssec.5) This section applies subject to the Financial Accountability Act 2009 , section 64 . - (a) the acceptance is a complete discharge to the person making the gift, devise or bequest; and - (b) the person is not responsible for how the gift, devise or bequest is applied. - (a) to keep a record of and an account for the property the subject of the gift, devise or bequest; - (b) to use the property in a particular way and for a particular purpose; - (c) to identify and use the property under a particular name or title. - (a) use the property in a way and for a purpose decided by the council; - (b) identify and use the property under the name or title decided by the council.