Statute 12.1 – Administration of trust and other property
1. Any gift, bequest or other device of property whatsoever real or personal or both to the University or to its predecessors in law shall be administered and applied:
(a) as the Council may determine; or
(b) as may be prescribed by any Regulation made under this Statute provided that the administration and application of such property will be subject to any conditions imposed or directions given by the donor or testator of any such property in so far as the same are binding upon the University.
2. The Council may make Regulations for or with respect to:
(a) the administration and application of any such property
(b) the powers and appointment of a committee or committees for the administration and application of any such property;
(c) the conditions of or for any payments, awards, grants, scholarships or prizes which may be provided from any such property; and
(d) prescribing or providing for any such other matters whatsoever for which it may be necessary or expedient to prescribe or otherwise provide for the purposes of this Statute.
3. Regulations under this Statute will come into effect when exhibited on the official University notice boards and will remain exhibited for a period of not less than fourteen days which period shall not include official University holidays.