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Recitals-
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| A. |
John Hastie late of Corangamite did by his last will and testament
give all his properties to trustees in trust to sell and invest
the proceeds in securities and after giving certain annuities
and legacies to his relatives he directed that after the decease
of the last survivor of his relatives named in his will his trustees
should pay assign or make over the whole residue of his property
estate and effects and the securities on which the same should
have been invested as therein mentioned to three objects namely
to the Church of England the Presbyterian Church and the University
or to any or either of them in such shares and proportions as
his said trustees or survivors of them should in their discretion
and judgment think fit.
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| B. |
The University by an agreement arrived at between
the three legatees benefited under the will to the extent of £19,140. |
| C. |
The University received £19,140 at the time of
the donation, which sum increased to $28,100 at 31 December 1994.
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It is provided as follows-
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| 1 |
The sum of $28,100 and any accumulations and additions to the
sum forms a fund called "The Hastie Exhibitions and Scholarship
Fund" ("the fund") and the fund must be paid into an investment
pool and remain there until the Council directs otherwise.
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| 2 |
The capital and income of the fund may be used to such extent
as the Council from time to time determines for the purchase,
leasing, building, adaptation or repairing of real estate for
the accommodation of members of the staff of the University or
assisting a member of the staff of the University in the purchase
of a dwelling house either by making advances to him or her or
by providing a sum available to meet the liability of the University
under any guarantee given by it in respect of any advance made
by a lender to a member of the staff of the University.
Provided nevertheless that to the extent to which it is not
required for the above purposes stated the income of the fund
(including income from real estate dealt with as stated above)
may be used for such other purpose connected with the University
as the Council may think fit.
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| 3 |
- In the faculty of Arts there are two annual exhibitions each
of which is styled "the Hastie Exhibition". The exhibitions
are awarded, respectively, to the two students who attain the
highest overall results in two Philosophy subjects.
- A scholarship, to be styled "the Hastie Scholarship", is awarded
annually to the candidate placed first in the first class honours
list in the final Year of the pure honours course in Philosophy.
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