R7.31 - B.M.A. Fund

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Recitals-

1. In 1937 the British Medical Association presented £500 to the University from the surplus resulting from the 103rd meeting of the Association, held in Melbourne in 1935, to be used as the Council determines.
2. The sum of £500 increased to $1,321 at 31 December 1994.

It is provided as follows-

1. The sum of $1,321 and any accumulations and additions to the sum forms the endowment of a fund called the "B.M.A. Fund" (“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 applied to support Medical Research.
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.