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New South Wales act
This Act authorises the trustees of Richard Thomas Hall’s will to apply the trust’s income — and, within a capped percentage, capital — to fund medical research and education in New South Wales, create R. T. Hall Fellowships, and pay for related purposes (s3). Trustees decide recipients and fellowship conditions; the Minister may approve additional medical fields and raise the annual capital‑spend cap from 5% to up to 10% (s3). The fund may be invested under the Trustee Act 1925 (s4).
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Direct links to the current provisions in R. T. Hall Trusts Act 1958.
2 Definitions
In this Act unless the context or subject matter otherwise indicates or requires:
Trust fund means the funds from time to time being administered by the trustees as the trustees of the will of Richard Thomas Hall, deceased.
Trustees means the trustees from time to time of the will of Richard Thomas Hall, deceased.
3 Application of trust fund
The trustees may, for the purpose of carrying into effect the charitable trust constituted by the will of Richard Thomas Hall, deceased:
(a) from time to time, apply the income of the trust fund either wholly or in part for any or all of the following purposes, that is to say:
(i) the making of grants to any institution, association or organization for or in connection with medical research or education undertaken by such institution, association or organization in the State of New South Wales in the fields of diseases of the heart or cancer or in such other fields of medical science as may be approved by the Minister,
(ii) the providing of fellowships to be known as “R. T. Hall Fellowships” to enable, subject to such conditions as the trustees may determine, persons eminent in medical research or practice in the fields of medical science referred to in subparagraph (i) of this paragraph to visit the State of New South Wales for the dissemination of medical knowledge in appropriate centres of medical research or education or to enable selected persons to proceed overseas to obtain experience in such fields in important centres of medical or scientific research,
(iii) purposes incidental or supplementary to those referred to in subparagraphs (i) and (ii) of this paragraph,
(b) make further provision for the purposes referred to in subparagraphs (i), (ii) and (iii) of paragraph (a) of this section whenever they deem it expedient so to do by expending as hereinafter provided capital of the trust fund.
Any such expenditure shall not in any one year exceed five per centum, or where the Minister approves of a percentage higher than five but not exceeding ten such higher percentage, of the capital of the trust fund remaining in the hands of the trustees at the beginning of such year.
4 Investment of trust fund
Pending the application thereof pursuant to the powers of the trustees the trust fund may, in addition to any form of investment at present authorised by or under the will of Richard Thomas Hall, deceased, be invested in any of the securities authorised by the Trustee Act 1925, as amended by subsequent Acts.
Sourced from legislation.nsw.gov.au, CC BY 4.0.
1 Name of Act
This Act may be cited as the R. T. Hall Trusts Act 1958.
2 Definitions
In this Act unless the context or subject matter otherwise indicates or requires:
Trust fund means the funds from time to time being administered by the trustees as the trustees of the will of Richard Thomas Hall, deceased.
Trustees means the trustees from time to time of the will of Richard Thomas Hall, deceased.
3 Application of trust fund
The trustees may, for the purpose of carrying into effect the charitable trust constituted by the will of Richard Thomas Hall, deceased:
(a) from time to time, apply the income of the trust fund either wholly or in part for any or all of the following purposes, that is to say:
(i) the making of grants to any institution, association or organization for or in connection with medical research or education undertaken by such institution, association or organization in the State of New South Wales in the fields of diseases of the heart or cancer or in such other fields of medical science as may be approved by the Minister,
(ii) the providing of fellowships to be known as “R. T. Hall Fellowships” to enable, subject to such conditions as the trustees may determine, persons eminent in medical research or practice in the fields of medical science referred to in subparagraph (i) of this paragraph to visit the State of New South Wales for the dissemination of medical knowledge in appropriate centres of medical research or education or to enable selected persons to proceed overseas to obtain experience in such fields in important centres of medical or scientific research,
(iii) purposes incidental or supplementary to those referred to in subparagraphs (i) and (ii) of this paragraph,
(b) make further provision for the purposes referred to in subparagraphs (i), (ii) and (iii) of paragraph (a) of this section whenever they deem it expedient so to do by expending as hereinafter provided capital of the trust fund.
Any such expenditure shall not in any one year exceed five per centum, or where the Minister approves of a percentage higher than five but not exceeding ten such higher percentage, of the capital of the trust fund remaining in the hands of the trustees at the beginning of such year.
4 Investment of trust fund
Pending the application thereof pursuant to the powers of the trustees the trust fund may, in addition to any form of investment at present authorised by or under the will of Richard Thomas Hall, deceased, be invested in any of the securities authorised by the Trustee Act 1925, as amended by subsequent Acts.