Farrer Memorial Research Scholarship Fund Act 1930 No 38

An Act to provide for the administration of the Farrer Memorial Research Scholarship Fund and to declare the trusts thereof; to transfer to that Fund certain moneys; to amend the Wheat Marketing (Barring of Claims) Act 1929; and for purposes connected therewith.
1   Name of Act
This Act may be cited as the Farrer Memorial Research Scholarship Fund Act 1930.
2   Definitions
In this Act:
The fund means the moneys formerly held by the late Frederick Bickell Guthrie, George Washington Walker, the late Henry Lord, and the Under-Secretary of the Department of Agriculture, and the Principal of the Hawkesbury Agricultural College at Richmond, in connection with the Farrer Memorial Fund, amounting at or shortly before the commencement of this Act to the sum of about two thousand eight hundred and forty-eight pounds seventeen shillings and ten pence, and the investments for the time being representing the same together with all interest accrued and accruing thereon.
Trustees means the trustees of the fund appointed by or under this Act.
3   Trustees
The Honourable Alfred Edgar Hunt, Member of the Legislative Council, Thomas Irving Campbell, of Tabbita, in the State of New South Wales, farmer, George Washington Walker, of Sydney, in the said State, grain merchant, or their successors appointed under this Act (in this Act referred to as the non-official trustees) together with the persons who for the time being respectively hold the offices of Dean of the Faculty of Agriculture of the University of Sydney, Director-General of the Department of Agriculture, Deputy Director-General of the Department of Agriculture and an officer of the Commonwealth Scientific and Industrial Research Organisation nominated by the Minister (which said persons are in this Act referred to as the official trustees) shall be the trustees of the fund.
s 3: Am 1974 No 70, sec 2 (a); 1993 No 46, Sch 2.
4   Majority of trustees to act
The trustees shall be entitled to act by a majority of those present at any meeting duly convened, at which a quorum shall be three.
5   New trustees
(1)  A new trustee may be appointed in the place of any non-official trustee by the Governor and the appointment signified by notification published in the Gazette in any of the following cases:
(a)  where a trustee is dead,
(b)  where a trustee remains out of New South Wales for more than one year without the consent of the trustees,
(c)  where a trustee desires to be discharged from all or any of the trusts or powers reposed in or conferred on him, or resigns his office by letter addressed to the Minister,
(d)  where a trustee refuses or is unfit to act in such trusts or powers, or is incapable of acting therein.
(2)  Upon any such appointment being so notified the fund shall by virtue of this Act vest in the new trustee so appointed jointly with the continuing trustees.
(3)  Upon any change in the holder of any office referred to in section three the fund shall by virtue of this Act vest jointly in the successor in the office whose holder is changed and the continuing trustees.
6   Transfer and investment of fund and application of proceeds
(1)  The fund is hereby vested in the trustees, and shall by them be invested in any of the securities authorised by the Trustee Act 1925.
(2)  The interest arising from the investment of the fund shall be expended, in such amounts as from time to time are determined by the trustees:
(a)  in enabling any person selected by the trustees to carry out study or research in agricultural problems, and
(b)  at the discretion of the trustees, in paying:
(i)  the whole or part of the costs and expenses of the delivery of an annual Farrer Memorial Oration and the annual presentation of medal, known as the Farrer Memorial Medal, and
(ii)  an honorarium to the recipient of the Farrer Memorial Medal.
s 6: Am 1974 No 70, sec 2 (b).
7   Power of trustees as to investigation and person to make same
The trustees shall have power to indicate or direct the nature of the investigation which will be accepted by them as conforming to the objects of the fund referred to in section 6 (2) (a), and also to select the person who, in their opinion, has the necessary qualifications for the particular class of work to be undertaken.
Any person so selected shall be appointed by the trustees as a Farrer Memorial Research Scholar for such period as the trustees may determine.
Any appointment so made may be revoked by the trustees if they are satisfied after inquiry that the conduct or work of such holder is such that he should no longer retain the scholarship.
s 7: Am 1974 No 70, sec 2 (c).
8   Further endowments
The trustees may accept any sums of money given to them to be applied for the same purposes as those to which the fund is to be applied, and any such sum shall be deemed to be part of the fund.
9   (Repealed)
s 9: Rep 1983 No 153, Sch 1.
10   By-laws
(1)  The trustees may make by-laws not inconsistent with this Act prescribing any matter which is necessary or convenient for carrying this Act into effect, and, without limiting the generality of the foregoing power, may make by-laws for the general control and management of the fund, prescribing the conditions upon which payments will be made and the qualifications required to be held by persons, and for regulating the conduct of their own proceedings, including the times, places and conduct of their meetings.
(2)  A by-law shall be submitted for the approval of the Governor.
(3)    (Repealed)
s 10: Am 1974 No 70, sec 2 (d); 1987 No 48, Sch 32.
11   (Repealed)
s 11: Rep 2003 No 82, Sch 3.