Sydney Mechanics' School of Arts Act 1855 No sms (NSW)

An Act to amend an Act intituled A n Act to

“ enable the President Senior Vice-President and “ Treasurer o f ̂ The Sydney Mechanics' School

o f Arts ’ to sell the Land belonging to the said

“ Institution in George-street South Sydney and “ to purchase other Land and erect neic Buildings “ in connection with the objects o f the said Society “ in a more convenient situation and fo r other “ purposes therein contained.” [31s ̂ October, 1855.]

Preamble. \ \ J HEE-EAS an Act was passed by the Governor and Legislative

16 Vic. V V Council of New South Wales in the sixteenth year of the reign

Sydney Mechanics’

of Her present Majesty intituled “ An Act to enable the President

School of Arts Act.

“ Senior Vice-President and Treasurer o f ‘ The Sydney Mechanics’’ “ School o f Arts ’ to sell the land belonging to the said Institution in “ George-street South Sydney and toptn'chase other Land and erect new “ Buildings in connection with the objects o f the said Society in a more “ convenient situation and fo r other purposes therein contained” And whereas it is expedient and necessary to amend the said Act by con­ ferring upon the trustees for the time being acting under and in pur­ suance of the provisions thereof the power of raising money upon mort­ gage of the lands and hereditaments subject to the trusts by the said Act declared and liy making the powers by the said Act conferred exer­ cisable only with the consent and by the direction of the committee of management of the said institution for the time being Be it therefore enacted by His Excellency the Governor of New South "Wales with the advice and consent of the Legislative Council thereof as follows—

officers nf the	1.	I t shall bo lawful for the president senior vice-president
Sydney Mechanics’

School of Arts may	and treasurer for the time being of the said Sydney Mechanics’ School
mortgage the hcre-
ditameuts.	of Arts to mortgage the hereditaments for the time being subject to the trusts by the said recited Act declared in fee simple or for any term or terms of years for any snm or sums of money and in such manner as they may think fit And it shall bo lawful for the said president senior vice-president and treasurer for the time being

effectually

1855. 19̂ ' VIC. 453

Harriot Betts' Trustees.

effcf!tually to assure the said licreditaments so to be mortgaged to the mortgagee or mortgagees thereof his her or their heirs or assigns or to dcmis(i tlie same to sueli mortgage*', or mortgagees for any term of years and tlic said hereditaments and premises so to he mortgaged and assured or demised shall theneeforth he held and enjoyed by tlu' mortgagee or mortgagees thereof his her or their heirs executors administrators and assigns freed and absolutely discharged from the trusts to which the same may for the time being be subject.

2 . All and every the ])owers by the said recited Aet or by this row ers confcired by

present Act conferred shall he exercisable only Avith the consent and exCTdsaldc.

by the direction of the committee of managcmicnt of the said institution

testified in Avriting under the hands of tlu; members of the said

committee or a majority of tlu'm.

3. Nothing in the said recited Act or in this i)resent Act to V

I ' T - i - i i i i 1 I i j •» n pui'clitiscrs or inort*

contained shall lie (u'cmcd or construed to make it necessary lor any gagees.

purchaser or mortgag(!C to inquire AA'hcther Ihe officers of the said

institution for the time being exercising the aforesaid poAvers Avero

duly and regularly appointed or Avhethcr the said poAÂers of sale and

mortgage A i ere duly and regularly exercised or in anyAvise to see to

the application of any moneys raised under the authority of the said

Acts or cither of them.