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R6.110 - THE LOXTON BEQUEST

Recitals-

1. Francis Henry Loxton, late of 95 St. James Flats Stanley Street Hyde Park Sydney, who died on 7 June 1959, bequeathed his Trust Fund (as defined in his will) in the following terms (inter alia):
   
   '(b) Subject as aforesaid the income shall be applied in establishing and maintaining such studentships and scholarships as may from time to time be established as hereinafter mentioned within the University of Sydney and tenable in all or any one or more of the faculties of Engineering, Veterinary Science and Agricultural Science or for the promotion of the study of Engineering or Science in all their branches by students at or graduates of the University or of members (whether graduates or not) of the staff of the University and in particular so far as Engineering is concerned, for the chemical branch of Engineering.
   
   (c) The studentships and scholarships respectively shall be awarded to male persons only for such purposes and at such intervals and as the result of such examination or without examination and in such manner and shall be held and enjoyed for such period and upon and subject to such terms and conditions as shall from time to time be prescribed by the Senate of the University or by such Committee as may from time to time to be appointed by the Senate.’
   
2. By a codicil to his will the testator gave and bequeathed his property more particularly described in the codicil to his trustees to hold as follows: ‘Upon trust for sale and conversion and upon similar trusts and with and subject to similar powers and provisions as are by my will declared in respect of the Trust Fund therein described except that the net income arising from the foregoing bequest shall be applied in establishing and maintaining studentships and scholarships within the University of Melbourne and not within the University of Sydney and references in my will to the ‘University’ shall in respect of the foregoing bequest mean the University of Melbourne.’
   
3. The faculty of Agricultural Science is now the faculty of Land and Food Resources.
   
4. Perpetual Trustees is the trustee of the bequest and provides the income to the University.

It is provided as follows-

1. The income received each year from the trust established by the will and the codicil to the will of Francis Henry Loxton is to be divided into three equal parts for scholarships in the faculties of Engineering, Veterinary Science and the faculty of Land and Food Resources.
   
2. The income is to be applied by Council on the recommendation of the deans of the faculties of Engineering, Veterinary Science and the faculty of Land and Food Resources to provide scholarships to male students studying engineering, veterinary science and agricultural science respectively provided that in the faculty of Engineering, all other things being equal, preference must be given to students studying chemical engineering.
   
3. The terms and value of each scholarship is to be determined by Council on the recommendation of the relevant dean.

 

[Recitals C and D made, ss. 1, 2 and 3 subst. 7/10/02, ss. 1 and 2 am. 11/8/03, Recital C, ss. 1 and 2 am. 7/3/05.]