7. Power to realise funds and investments in Hackett Bequest
In order to provide the moneys necessary for the completion by the University of the said buildings at Crawley, known as the Hackett Buildings, and for the erection of the further building mentioned and provided for in section four of this Act, the Senate is hereby authorized to raise a sum of money equal to the aggregate sums of principal and capitalised interest mentioned in section five 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 any other investments (other than land and buildings) for the time being controlled by the University, or by means of a sale of so much of the said Hackett Bequest as may be necessary to raise such sum, or partly by means of a loan as aforesaid and partly by means of a sale as aforesaid as the Senate may deem expedient, and to use such sum for the purposes aforesaid: Provided that, as and when the payments firstly provided for in section six 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 such sales and realisation, and thereby make the same against subject to the present trusts applying to the Hackett Bequest and, secondly, to pay the amount of the principal sum and interest owing in respect of any loan raised as aforesaid.
[Section 7 amended by No. 50 of 1931 s.2.]