An Act to vary the trusts and conditions attaching to certain gifts made to the University of Sydney by the Honourable John Brown Watt; to provide for the establishment of certain travelling scholarships and for the terms and conditions governing the award of such scholarships; and for purposes connected therewith.
1 Name of Act
(1) This Act may be cited as the University (J.B. Watt Travelling Scholarships) Act 1937.(2) This Act shall be read and construed with the University and University Colleges Act 1900–1936.
2 Definition
In this Act, unless the context or subject-matter otherwise indicates or requires:Fund means the three several sums each of the amount of one thousand pounds given to the University by the Honourable John Brown Watt in the years one thousand eight hundred and seventy-six, one thousand eight hundred and eighty-eight and one thousand eight hundred and eighty-nine, together with any accumulation of the income derived from investments of such sums.
3 The J.B. Watt Travelling Scholarships
(1) The trusts and conditions which, immediately before the commencement of this Act attached to the fund shall, as from such commencement, be varied to the extent and in the manner indicated in this Act.(2) It shall be lawful for the University to establish one or more travelling scholarships each of which shall be known as the J.B. Watt Travelling Scholarship and to apply the income of the fund, in whole or in part, for the purpose of any such scholarship.Any surplus of such income shall be added to and shall form part of the fund.(3) Any scholarship so established shall be awarded on such terms and conditions as the Senate thinks proper to a graduate of the University who desires to prosecute his studies or researches in some place or places approved by the Senate and who, in the opinion of the Senate:(a) is of sufficient merit, and(b) is unable so to prosecute his studies or researches without the assistance afforded by the scholarship.