National Cultural Institutions Act, 1997

Gifts.

28.—(1) A Board may accept gifts of money, land (subject to the consent of the Minister) or other property, upon such trusts or conditions, if any, as may be specified by the donor.

(2) A Board shall not accept a gift if the trusts or conditions attached to it would be inconsistent with its functions.

(3) Any funds of a Board which are a gift or the proceeds of a gift to it may, subject to any terms or conditions of the gift, be invested by the Board in any manner in which a trustee is empowered by law to invest trust funds.