R7.40 - A. E. Bayne Bequest

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Recitals-

1. Amy Elizabeth Bayne, who died on 13th August, 1945, bequeathed to the University the sum of £3,000 "to be devoted to Medical Research".
2. The sum of £3,000 increased to $5,969 at 31 December 1994.

It is provided as follows-

1. The sum of $5,969 and any accumulations and additions to the sum forms the endowment of a fund called the "A.E. Bayne Bequest" (“the fund”) and the fund must be paid into an investment pool and remain there until the Council directs otherwise.
2. The income of the fund is used for the promotion of Medical Research in the University.
3. The Council may at any time direct that the whole of the capital of the fund or any part thereof be resorted to for the purpose or purposes stated above.