Land Act, 1923

Trinity College Dublin.

15.—(1) The provisions of sub-sections (1), (2), and (3) of section 39 of the Irish Land Act, 1903, providing for the payment to the public trustee of the sum of £5,000 per annum for the account of Trinity College, Dublin, and for the application of the said moneys shall cease to have effect and in lieu thereof the following provisions shall apply:—

(2) There shall be paid to the College out of moneys to be provided by the Oireachtas the sum of £3,000 per annum.

(3) The investments representing accumulations of the moneys so paid to the public trustee which were not required to make good loss of income to the College and accrued interest thereon shall be transferred to the Minister for Finance and such officer of the College as shall be nominated for the purpose by the Governing Body of the College.

(4) The dividends and income arising from the investments so transferred shall be applied by the College in such manner and for such purposes as to the College may seem proper.

(5) The investments so transferred may be varied from time to time with the consent and approval of the Minister for Finance.

(6) The College may from time to time with the consent of the Minister for Finance realise the whole or any part of the investments so transferred or any other investments for the time being representing the same and apply the moneys arising from such realisation for such purposes as to the College may seem proper and shall be approved of by the Minister for Finance.