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R7.55 - VETERINARY RESEARCH FUND

Recitals-

1. The University of Melbourne Veterinary School and Research Appeal sponsored by the Graziers' Association of Victoria was conducted for the purpose of providing a building for a school of Veterinary Science and for endowing a research fund for Veterinary Science.
   
   
2. The University received £85,530, one half of which sum was used to provide a School of Veterinary Science.
   
   
3. The reminder of the sum increased to $285,316 at 31 December 1994, and forms the endowment of a fund called "The Veterinary Research Fund".

It is provided as follows-

1. One half of the total sum received by the conclusion of the appeal was used to provide a building for the school of Veterinary Science at the Veterinary Precinct Site, Parkville.
   
   
2. The remainder of the sum and any accumulations and additions to the sum forms the endowment of a fund called the "Veterinary Research Fund" ("the Fund").
   
   
3. The Council may invest the fund in any investment (whether authorised by the laws of the Commonwealth of Australia or any of its States or Territories for the investment of trust funds or not) which the Council thinks fit.
   
   
4. The net annual income of the fund is devoted by the Council to Veterinary Research in the University on the recommendation of a research committee appointed by it from time to time.
   
   
5. An annual report of research conducted under this fund must be prepared by the committee and distributed as determined by the Council from time to time.
   
   
6. Any surplus income from the fund may be added to the fund or retained as income as the Council thinks fit.

[Edit. am. 16/7/99.]