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Power of Board to authorise purchase of periodical payment payable out of charity land.
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36.—(1) Where—
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(a) any land belonging to a charity is subject to a periodical payment, and
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(b) an application is made to the Board by the trustees of the charity representing that a purchase by the applicants of the periodical payment would be advantageous to the charity,
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the Board may, if they think fit, inquire into the circumstances, and if, after inquiry, they are satisfied that the proposed purchase would be advantageous to the charity, they may authorise the trustees to purchase the periodical payment on such terms and conditions as the Board deem beneficial to the charity.
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(2) Where—
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(a) a charity comprising land of which the Board are trustees is subject to a periodical payment, and
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(b) the Board are of opinion that the purchase of the periodical payment would be advantageous to the charity,
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the Board may purchase, out of any funds belonging to the charity, the periodical payment.
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