4. Power to Senate to meet expenditure incurred in erection of building

    In order to provide the moneys necessary for the erection and completion of the building aforesaid in accordance with section three of this Act, the Senate is hereby authorized, either by means of a loan on the security of the funds and investments now controlled by the University and known as the Hackett Bequest and of any other funds and investments being or representing trust moneys controlled by the University (other than land and buildings or by means of a sale of any of the investments aforesaid or partly by means of a loan as aforesaid, as the Senate may deem expedient, to raise a sum of money equal to the amount incurred or to be incurred as the cost of the erection and completion of the said building and to use such sum for the purpose of paying such cost: Provided that, as and when the payments provided for in section six of this Act are made by the Government to the University the Senate shall, as soon as practicable, use and apply such payments firstly to restore the moneys realised by sales of investments as aforesaid to the funds represented by the investments sold and thereby make the same subject to the trusts applying to such funds, and secondly to pay the amount of the principal sum and interest owing in respect of any loan raised as aforesaid.



Note: This is not an authorised version. The only authorised version is the hardcopy (printed) version published under authority of the Government Printer, available from the State Law Publisher, 10 William St Perth W.A. 6000.