Queensland Consolidated Acts

BISHOPSBOURNE ESTATE AND SEE ENDOWMENT TRUSTS ACT 1898 - SECT 2

2 Power for the corporation to apply the See Endowment Fund and all moneys arising from the calling in, sale, or disposal of the investments representing the same in the repayment of any moneys owing on the security of the Bishopsbourne Estate, and in the payment of moneys expended or which may hereafter be expended on the maintenance, conservation, insurance, and repair of the buildings or improvements upon the Bishopsbourne Estate, and for other purposes

(1) Notwithstanding anything in the said hereinbefore recited indenture to the contrary contained the See Endowment Fund, and all moneys arising from the calling in, sale, transfer, or disposal of all or any of the properties and investments for the time being representing the same or any part thereof, may from time to time be applied by the corporation for all or any of the following purposes—

(a) in the payment of the costs, charges, and expenses of and attending the applying for, obtaining, and passing of this Act;

(b) in or towards the payment, satisfaction, and discharge of the said hereinbefore recited bill of mortgage, and of any moneys for the time being owing on the security thereof;

(c) in or towards the payment and discharge of the said sum of £279 or other moneys expended or liabilities incurred by the corporation in and about the necessary maintenance and repair of the said buildings and improvements so erected and made upon the Bishopsbourne Estate as hereinbefore recited;

(d) in or towards the payment of any moneys which may from time to time and at any time be required for the proper maintenance, conservation, insurance, or repair of the buildings or improvements for the time being erected or made upon the Bishopsbourne Estate.

(2) However, unless and until the See Endowment Fund or the moneys arising from the calling in, sale, transfer, or disposal of the properties or investments for the time being representing the same are applied for the purposes hereby authorised, and so far as such application shall not extend, the same shall be held by the corporation upon the trusts, and with, under, and subject to the powers and provisions in and by the said hereinbefore recited indenture contained and declared concerning the same.