24Powers of Board relating to University property

#### 24 Powers of Board relating to University property 24 Powers of Board relating to University property > > (1) The Board has the control and management of land and other property vested in the University. > > > (2) The Board 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) and (4), dispose of or otherwise deal with the following— > > > > > > > (i) land vested in the University, > > > > > > > (ii) other property of the University. > > > (3) The Board must not sell, mortgage, charge or lease relevant land without the Minister’s approval. > > > (4) Despite subsection (3), the Board 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 Board is satisfied the leasing of the land is consistent with the object and functions of the University under section 8, 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) 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. > > > (6) 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 24:** Am 2014 No 43, Sch 1.9 \[3\]–\[5\]; 2017 No 22, Sch 1.33 \[4\]; 2017 No 23, Sch 1.10. Subst 2024 No 66, Sch 10.