Trusts

The University is trustee of over seven hundred trusts which have been established by gifts or bequests to the University. These provide income for a wide range of University purposes. Each trust fund is governed by a Regulation. Those providing prizes, exhibitions, scholarships and bursaries are governed by Regulations R6 made under Statute 10 of the University legislation; those for other purposes are governed by Regulations R7 made under Statute 10.

The University attaches the greatest importance to ensuring that trust income is applied only to purposes allowed by the terms of each trust. The Vice-Chancellor is responsible for the proper administration and performance of all University trusts and ensuring that the University at all times fulfils its obligations as a trustee. The University Council and Deans may authorise expenditure of trust income and in May each year the purpose of all expenditure of trust income is reported in a trust compliance report.

While the University must strictly comply with the terms of a trust, the law recognises that over time it may become impossible or impractical to perform a trust as prescribed. When this happens the University brings the circumstances to the attention of the Supreme Court or the Attorney General and proposes a change of purpose as close to the original as possible. Anyone with any concern about the terms of a particular trust or any matter concerning trust administration should contact Sandra Bethell, Trusts Lawyer on 8344 3487.