Queensland Consolidated Acts

NEWSTEAD HOUSE TRUST ACT 1939 - SECT 10

10 Newstead House Fund

(1) The trust shall establish a fund to be called the Newstead House Fund.

(2) There shall be paid into the fund unless invested by the trust in pursuance of this Act—

(a) all donations, bequests, legacies, grants, and contributions received by the trust under or pursuant to this Act, and all moneys arising from any gift or devise of real property received by or vested in the trust under or pursuant to this Act; and

(b) all moneys received from consolidated fund (which moneys may from time to time be appropriated for the purpose); and

(c) all moneys received from the Brisbane City Council; and

(d) all other moneys received by the trust on any account whatsoever.

(3) The fund shall be applied by the trust towards the payment of all expenses necessarily incurred in carrying this Act into execution and in doing and performing any acts and things which the trust is by this Act empowered or required to do or perform.

(4) The trust may pay out of the fund any moneys which the trust has decided to invest in pursuance of this Act and any sum due under any agreement lawfully made for the purposes of this Act and any sum recovered against the trust by process of law.

(5) All gifts, bequests, and devises of property made to the trust or vested in the trust pursuant to this Act shall be strictly applied in manner directed by the donors or testators respectively, but in the absence of any such direction shall be applied in aid of the execution of this Act in such manner as the trust may from time to time determine.