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LITERARY AND SCIENTIFIC INSTITUTIONS ACT 1854 - SECT 18

Trustees may sell, exchange, or let lands or buildings.

18. If it shall be deemed advisable to sell any land or building... held in
trust for any institution, or to exchange the same for any other site, the
trustees in whom the legal estate in the said land or building shall be vested
may, by the direction or with the consent of the governing body of the said
institution, if any such there be, sell the said land or building, or part
thereof, or exchange the same for other land or building suitable to the
purposes of their trust, and receive on any exchange any sum of money by way
of effecting an equality, and apply the money arising from such sale or given
on such exchange in the purchase of another site, or in the improvement of
other premises used or to be used for the purposes of such trust; and such
trustees may, with like direction or consent, let portions of the premises
belonging to the institution not required for the purposes thereof, for such
term, and under such covenants or agreements, as shall be deemed by such
governing body to be expedient, and apply the rents thereof to the benefit of
the institution.

© 1854 Crown Copyright

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