South Australian Numbered Acts South Australian Numbered Acts18—Application of charitable assets
(1) Subject to this Act, the Board may apply the charitable assets for the benefit of a public health entity or a prescribed research body.
(2) Once a gift by a donor to, or for the benefit of, an entity or body (the "donee") has become part of the charitable assets by virtue of this Act, the Board—
(a) holds the gift free from any trust to which the gift may have been subject prior to becoming part of the charitable assets; and
(b) may give the whole or part of the gift to any public health entity or prescribed research body (provided that, in so doing, the Board complies with the requirements of subsection (3)).
(3) In managing and applying a portion of the charitable assets attributable to a particular donor, the Board—
(a) must consider the intent, as far as it may be reasonably ascertained, of the donor; and
(b) so far as is reasonably practicable, must apply the portion in a manner that the Board considers is most likely to achieve the intention of the donor; and
(c) if the donee remains in existence at the relevant time as a public health entity or prescribed research body—may only apply the portion to some other public health entity or prescribed research body if the Board first consults the donee in such manner as the Board thinks fit.
(4) In managing and applying the charitable assets the Board does not act as a trustee but the regulations may specify fiduciary and other duties to be observed by the Board in managing and applying such assets.