31Variation of terms of trust

#### 31 Variation of terms of trust 31 Variation of terms of trust > > (1) If— > > > > > (a) by the terms of a trust, any property is held— > > > > > > > (i) on trust for a charitable purpose, or > > > > > > > (ii) on trust for a purpose of the University other than its general purposes, and > > > > > (b) in the opinion of the Board, it is impossible or inexpedient, or not in the reasonable interests of the University, to carry out or observe the terms of the trust, whether as to its purpose or any other of its terms, > > > > the Board may request the Minister to effect a variation of the terms of the trust. > > > (2) The Minister may, if satisfied that it is just and equitable to do so, and with the concurrence of the Attorney General, determine to vary the terms of the trust concerned in accordance with the Board’s request. > > > (3) In the making of any such determination, regard is to be had— > > > > > (a) to what appear to have been the intentions of the donor in creating the trust, and > > > > > (b) to the extent to which it may be necessary to depart from the terms of the trust concerned in order to avoid the impossibility or inexpediency complained of or to enable the trust to be carried out or observed in a manner that is in the reasonable interests of the University. > > > (4) On delivery to the Board of an instrument in writing signed by the Minister and specifying a variation of the terms of the trust concerned, the trust is varied accordingly.